Corporate Housing Trends for 2022

Corporate housing is intended to provide stable living accommodations to those who require it, such as traveling medical professionals, government contractors, and employees traveling for an extended period. Previously, corporate housing had its own space in the real estate market, separate from other options such as vacation rentals and short-term and long-term lodging. Recent trends have shown that those separate real estate segments now blend together, creating new opportunities for investors, property managers, and landlords. Interior Furniture Resources offers a practical way to furnish corporate housing through home furniture and office furniture rentals in Pennsylvania, Maryland, Delaware, New Jersey, Virginia, and West Virginia. Here, we discuss the corporate housing market trend to offer some insight into what 2022 may bring.

Corporate Housing Business Is Booming

The corporate housing market has continued to grow year after year, and that is likely to continue in 2022. Even as some businesses are encouraging remote work at home, a new opportunity has presented itself. When taking into account employees who work from home, reasons for corporate housing now include:

• Home renovations: For those who work remotely, their home is now their new office. Should your home require renovations or repairs, you may need a private space to work and live without any distractions from construction.
• Selling a home: Not only are you selling your home, but while working remotely, you’re selling your office as well. If you’ve sold your home and have not purchased or closed on your new home, you will need a temporary space to live and work from.
• Unexpected life events: Life seemingly changes every day without warning. Events such as separation and divorce, illness within the family, and others, may cause the need for temporary accommodations.
• Job relocation: Moving to a new city for work requires finding a new permanent home. As this process often takes time to complete, corporate housing offers a solution by providing temporary living arrangements.

More Corporate Housing Options

With corporate housing in such high demand, more real estate segments are pivoting to accommodate this trend. Multiple property types are transitioning to a corporate housing solution for those who require it, such as:

• Vacation rentals: Once offering an escape from work, several vacation rentals are now catering to the traveling professional by transiting to a mixed-use property.
• Condos: Many vacant units within apartment buildings and condos are being turned into temporary housing for professionals.
• Single-family homes and duplexes: Instead of renting to the traditional tenant, landlords are opting to accommodate tenants who need temporary residency.

Converting Your Property into a Corporate Housing Solution

Choosing to convert your property into temporary housing can be a lucrative decision. With that decision, a large initial investment is needed to acquire the necessary interior furnishings. Interior Furniture Resources can help ease this financial burden by offering top-quality home furniture and office furniture rentals. Our flexible renting terms and low monthly rates allow you to properly furnish your property and accommodate the needs of traveling professionals. Our design team will even assist you in maximizing the functionality of your space, helping you turn it into a great corporate housing option

Consult With Interior Furniture Resources Today

Our furniture rental services can accommodate clients across Pennsylvania, Maryland, Delaware, New Jersey, Virginia, and West Virginia. For more information about our services, our selection of furniture, and how renting works, contact us today.