Learn something new every day
More Info... by email
Short term corporate housing is housing provided by a company to its employees, generally when the employees are forced to relocate either permanently or temporarily due to their jobs. Not all companies offer this benefit to their employees, but it is relatively common. Short term corporate housing can be a very helpful option while people look for a more permanent solution.
One common type of short term corporate housing is when an employee is sent to another state or country on a brief assignment. The assignment may be for a few months, for example, and rather than forcing the employee to stay in a hotel or rent an apartment on his or her own, the business may sublet an apartment and allow the employee to live there. Typically, these sublet apartments are fully furnished and completely paid for by the company; all the employee needs to provide is basic essentials such as food and toiletries.
When the end of the assignment comes, the sublet will be released and the employee will come home. The second type of short term corporate housing is when an employee is permanently transferred to a new location. The company may then offer the employee, and his or her family, the option of short term housing while they search for a place of their own. This may be in a hotel, or again in an apartment. This typically only lasts for a few months as well, and is generally only applicable if an employee must relocate for the job, or is transferred.
For instance, a voluntary choice to move to a new location will generally not ensure short term corporate housing unless the company is particularly generous. Keep in mind that when taking advantage of short term corporate housing, that it is unlikely that the employee will have any input on the type or location of the housing provided. It may be necessary to be a bit flexible for a few months, keeping in mind that it will not last forever.
Short term corporate housing differs from that provided by the military, for example, which is on a more long-term basis, such as on a military base. It should be considered as part of one's entire benefits package with a company, particularly if one is reimbursed for 100 percent of the expenses associated with housing. It is also important to care for the short term corporate housing as if it were one's own home to avoid incurring any extra expenses.