Visit http://ExtendedStay-Tucson.com for your Furnished Housing Needs – (520) 940-3025
Find the best furnished short term rentals in Tucson for your short term housing needs, whether it be a corporate house rental situation, an extended stay with family for short term vacation rental, or for medical treatment, or any other reason you may choose. We can help you find the perfect short term rental properties in the most ideal location for your particular needs.
Corporate housing rentals are typically a furnished apartment, usually, in the United States, leased by a corporate housing provider, as well as sometimes by CRBO or Corporate Rentals By Owner, and then subleased to the tenant. Typically, a minimum stay of thirty nights is required, which is one of the key differentiators between corporate rental housing and extended stay hotels.
Short term apartment rentals generally do not have a minimum stay except during certain very, very busy periods, and they do not normally require any lease to be signed and accept reservations
Corporate housing is partly based on lodging inventory. We consider it to be a segment of the extended stay lodging sector, and in 2013, corporate housing in the United States was a 2.48 billion dollar industry in terms of world revenue alone. In Canada, it was 277 million Canadian dollars in terms of room revenue, and in the US, corporate housing represents 24% of total US extended stay industry during 2013.
Highlights from the report on Corporate Housing and Short Term Furnished Apartment Rentals
Unit supply corporate housing in the United States was down 3.6% in 2013 compared to 2012. We are in an expansionary period when overall hotel demand and extended stay hotel and short term property rental demand is rising.
The supply of extended stay hotels and short term furnished rentals is rising, though not particularly quickly at the moment. So this is contrary to the underlying threat, and I’m going to elaborate on that for a moment or two, because when we did the research last year, at the end of the year, there was some concern about difficulty getting apartment entry in some markets, because the apartment sector, the residential apartment sector, had come out of the recessionary environment more quickly than other real estate sectors, and supply was not catching up because there was limited construction going on.
But at the end of 2012, there was some concern in certain markets, but overall, short term rental accommodation providers expected inventory to be up this year because it was also down last year, and despite more than 160 thousand new apartments being delivered in 2013 according to a report, demand exceeded supply, which they had not anticipated, and they can see on a national basis of short term furnished rental housing dipped below 5%, including corporate housing rentals by owner.