It’s time to take a closer look at Airbnb and Corporate Housing…
These two lodging options are often confused, but they’re quite different.
Airbnb is a website that allows homeowners to rent out their homes, apartments or even just rooms to guests. It works similarly to Uber: guests can search for available properties and book them on the fly. Some hosts offer discounts for longer stays, while others have rules in place requiring guests to leave by a certain time or face a fee. Airbnb also has an option for people who want to rent out their entire home or apartment for short-term stays (as opposed to renting out individual rooms).
Corporate Housing is another option for business travelers who need temporary Housing during their stay in town. Still, it’s not as flexible as Airbnb—and it doesn’t allow any kind of personalization or customization. Corporate Housing provides fully furnished apartments with all amenities included. These properties are typically leased long-term so that the company can keep them ready for travelers who need them.
To learn about the key differences between Airbnb and corporate Housing, have a look at this article.
Differences in Service
Airbnb vs. corporate Housing: Which option is best for your stay?
Airbnb and corporate Housing are very similar in that they both offer short-term accommodation options. The main difference is that Airbnb is provided by a private individual, whereas corporate Housing is facilitated by an intermediary (usually a listing site). While the unit provider may be a private individual, the experience from booking to (goodness forbid) conflict resolution is managed and overseen by a business that values professionalism.
With Airbnb, service is provided by a private individual. The benefit of this is that you will get a personal experience and live a local’s life and perspective. However, a private individual may not be trained or capable of providing a quality hospitality experience. This means that you will get a personalized experience, but there may be hiccups or idiosyncrasies during booking or your stay.
On the other hand, corporate Housing is facilitated by an intermediary (usually a listing site). While the unit provider may be a private individual, the experience from booking to (goodness forbid) conflict resolution is managed and overseen by a business that values professionalism. What does this mean for you? It means your stay will be safe and worry-free!
There are many things to consider before you decide whether you should rent out your home or condo on Airbnb or if you should use corporate Housing. One thing that is definitely worth thinking about is insurance liability.
With corporate housing, it’s pretty simple: the company or agency will have clear insurance that covers their guests and their property. It’s a business that has been around for quite some time, so there’s no question about what happens if someone is injured on the property.
With Airbnb, it’s not so clear-cut. They do offer an insurance product for hosts, but it only covers certain types of damages, and there are many questions about what it does cover. The good news is that there haven’t been any high-profile cases yet concerning Airbnb liability, so the risk is probably low in terms of the likelihood of something happening. But personal injury attorneys are very excited about how they might approach such cases in court in the future, so this may be something worth keeping an eye on as you decide which option for renting out your space makes sense for you.
If you’re looking for a short-term place to stay while you’re on a work trip or to help you get back on your feet during a move or job transition, Airbnb can be an affordable option. But if you’re looking for something more long-term, say, while you’re between homes or waiting for your new digs to be ready, corporate Housing is often the better bang for your buck.
Airbnb is priced nightly, with a monthly discount. Corporate Housing, on the other hand, is often priced monthly. So even with the monthly discount on Airbnb, it often turns out to be more expensive than services that primarily offer extended stays.
So if you’re looking for that sweet spot between a hotel and your apartment—a furnished space with most of the amenities (including kitchen supplies) that’s close enough to all the action but far enough away so that it’s chill when you want it to be—then corporate Housing might be your jam.