NYC Corporate Housing: A Guide to Finding the Perfect Place to Call Home
New York City expects over 60 million visitors in 2023 – and not all of them are in the Big Apple to play. A 2019 study named New York City as one of the most popular destinations for corporate travelers. If you’re reading this post, there is a good chance you’re among their ranks!
Corporate travel can be a great experience. It breaks up the regular business routine, and it allows a business professional to expand networks, try new things, and see the world. NYC is a hub for business, yes, but let’s be honest: who wouldn’t want to cap off their workweek with a Broadway show or a walk in Central Park?
However, not all business travel is quick. Thanks to the virtualization of many corporate roles – and a post-pandemic shift towards flexibility – it’s becoming more common for New York companies to bring in contractors, interns and other employees for more substantial short-term stays. It’s one thing to travel for four days. What if you’re asked to temporarily uproot for four weeks — or even four months? Where do you live?
Enter corporate housing: fully furnished rentals with flexible lease agreements for short-term residents of high speed cities. Corporate housing has become a fun, convenient part of New York’s cityscape, and it’s a great way for business travelers to marry the demands of their roles with a space for rest, relaxation, and adventure.
If you’re a professional with a long trip ahead of you, keep reading. This post will walk you through the types of corporate housing available, how to make your selection, and important things to consider. By the end, you should be ready to find your “home away from home” in one of the world’s busiest cities.
To fully grasp the concept and advantages of corporate housing, be sure to read our detailed explanation on 'What Is Corporate Housing?
TYPES OF CORPORATE HOUSING IN NYC
If you’re trying to find corporate housing in New York City, start by looking into short-term rentals. Short termrentals are fully furnished apartments or condos that have been designed with business professionals in mind. In addition to basic amenities, they might include things like modernized workstations, access to a concierge service, a washer and dryer, or other convenience-based services. The goal is to create a space that helps its resident transition easily between work and leisure. Navigating the NYC rental market can be challenging. Gain valuable insights and strategies with our guide on 'How to Find a Short-Term Furnished Rental in NYC.
Extended-Stay Hotels are another popular option for nomad workers. These offer long term accommodations for guests on business trips or other short-term ventures that outlast a typical time frame. These tend to be a bit more formal than short termrentals, but they still offer many of the necessities that a professional far from home might need — things such as wifi, linens, fitness center access, and proximity to public transportation.
A third option is to rent a furnished apartment for your stay in New York. This type of short term housing is a great way to experience space, privacy, and finery during your business trip. Since many NYC apartments are in large multi-home buildings, they often come with built-in security measures, such as a doorman or card-swipe access. Luxury apartments are fully furnished, move-in ready, and often sublet by owners who have their own reasons to travel to and from the Big Apple. Many of the furnished apartments in New York City are one-bedroom situations — largely due to the high demand for city real estate — but two and three-bedroom apartments exist, too.
Regardless of the type of space you rent, all corporate housing solutions should offer the same basic advantages: proximity to important places, competitive amenities, flexibility, and convenience. Let’s talk a bit more specifically about those things.
WHY GO WITH CORPORATE HOUSING?
New York corporate housing is diverse, so it’s not just a solution for professionals. Its flexible, all-inclusive nature makes it a great fit for a variety of non-professional housing needs. A one or two bedroom apartment is not just a great spot for summer interns or businessmen; it also holds appeal for other tenants, such as families in need of temporary housing.
Many of the advantages associated with corporate apartments are universal, too. Short-term rentals spare you the costs of renting a moving van, retrofitting a new home, and paying property taxes. You are a guest in a temporary space. That means you pay for the service of staying on-site, not for the bells and whistles attached to homeownership.
Corporate housing can also be tailored to your location and its needs. First off, it’s everywhere — you can find corporate apartments in Brooklyn, Midtown, Times Square, Manhattan and beyond. Are you going to be making trips to Wall Street? Do you need access to Jersey City, or a bus with a direct connection to Chelsea? There’s probably a furnished apartment somewhere that can make that a reality.
With location and cost savings comes a third benefit, convenience. Instead of clamoring for a corner of real estate, you get to find a cost effective, work-ready home close to everything you need for corporate success. There’s no price you can put on not having to stress over details — and corporate temporary housing makes low-stress living very possible.
At the end of the day, corporate housing should feel personal. It’s a temporary space fitted with all the trappings of long-term comfort. Look for a space that will help you feel productive, safe, supported, and excited to come “home” at the end of the day.
Business travelers looking for the ideal accommodation solution will find value in our 'Furnished Corporate Housing: An Ideal Solution for Business Travelers' blog, detailing the comforts and conveniences of such arrangements.
IS THERE A CATCH?
While short-termrentals might be the perfect solution for many business professionals, there are definitely disadvantages to consider. However, most of the blame for those disadvantages falls to the city, not the houses in it.
New York City is a well-known hub for industry, tourism, commerce and artistry. That means it is often quite crowded. There’s truly not a single borough or neighborhood exempt from that reality. If you’re moving to New York for a short-term corporate stay, remind yourself that having a comfortable temporary housing situation does not mean a quiet or uncrowded situation. Space and privacy are both rare commodities in the Big Apple.
Some neighborhoods are definitely quieter, and some apartments more spacious. However, it’s never going to be perfectly quiet or far from other people. Choose your short-term housing with wisdom, and you’ll likely find a situation that is very good, even if perfect is impossible.
Some short-termrental properties will have lease limitations. This is only a disadvantage if you don’t do your homework! Make sure you understand the space’s limitations — not just its amenities. If there are terms that dictate the length of stay, do your best to understand them before signing an agreement. You don’t want to be surprised down the road!
Lastly, many corporate housing solutions do require personal upkeep. Since fully-furnished apartments are often privately owned, they might not include things like room service or laundry access. Make sure you are well aware of your responsibilities as a tenant — and make sure that you are realistic about what you can manage. If you’re working 80 hours a week, you probably don’t have time to sit around at the nearest laundromat. Be honest with yourself, and make sure you weigh the responsibilities of your temporary space against your bandwidth. Knowing your limits will help you make wise housing decisions.
HOW DO I START MY SEARCH?
The best way to successfully track down corporate housing is to identify your non-negotiable needs. This list should include your practical must-haves and financial must-haves.
Practically, ask yourself about location. Is Queens the right fit for you? Will you be traveling back and forth to New Jersey? If you are at high risk for a medical condition, maybe you should look for a short termrental near the hospital or an urgent care center.
Also ask yourself if there are “quality of life” amenities that you need for a successful trip. If you’re traveling with your dog, you might need to find a pet-friendly apartment. If you plan to work from home frequently, wifi and a good workstation might be selling points for you.
Again, be honest about how much upkeep and practical work you can afford to do. Think about whether you will have the time to cook your own meals and grocery shop; that might impact the type of kitchen you need in your furnished apartment. Consider any upkeep rules in your contract, such as trash or snow removal, that you might need to juggle during your stay.
Lastly, assess your budget and do your homework. New York City is notorious for its high cost of living. Be realistic about your budgetary needs — and make sure you have a clear understanding of what your company can support. Be sure to investigate the property you intend to rent. Talk to the landlord, read reviews, or make connections another way.
Due to new legislation introduced in early 2023, short termrentals in New York City have a minimum stay requirement of 30 days — and the city enforced this change to combat an underbelly of short-term properties with health code violations and other issues. If the listing looks too good to be true, do a little research before saying “yes.” Contacting the provider directly is always a smart move.
WHAT IF I DON’T KNOW HOW TO TALK TO THE PROVIDER?
With a little legwork, it’s easy to find a corporate housing solution that fits your specific needs.m However, not every business professional has the time — or the desire — to do that legwork independently. Finding a house that feels like a good fit can be an arduous task. If that sounds like you, it’s okay to seek professional help.
Consider reaching out to a realtor, broker, or a short-term housing service for support — even if you think you won't need it. It’s amazing what an expert will do on your behalf!
Working with a real estate professional, especially one who understands New York City, will put someone with business acumen in your corner. It will give you a resource who can talk you through the pros and cons of each property with specificity. That person should be able to help you and your corporation interpret contracts, get in touch with property owners, and even talk you through any local nuances you might need to understand before taking your business trip.
Rove Travel is dedicated to helping traveling professionals find short-term housing solutions that fit their personal needs. Rove also keeps an up-to-date list of NYC properties on its website. Check out Rove’s listings today to search by location, price, and a certain number of amenities.
YOUR CORPORATE HOUSING SOLUTION IS ONE CLICK AWAY
From the Upper West Side to Avalon, New York City is full of great short-term housing options. There’s a diverse assortment of fully serviced apartments, condos, and other options waiting to be discovered.
Your next business trip doesn’t have to include the stress of moving, and it doesn't mean you have to resign yourself to four months in a sterile hotel. Give yourself the freedom to look closer! With the right eye, a little patience, and a clear sense of what you need, you can find a corporate housing solution that will make your stay in New York City both fun and successful.
At Rove Travel, we get excited about connecting business professionals with some of New York City’s best temporary housing. Check out Rove today to find your home away from home!