Corporate lease apartments are the perfect solution for business travelers and companies that are looking for comfortable, flexible, and fully equipped housing.
Unlike traditional rentals or temporary stays in hotels, corporate apartments cater specifically to professionals who need a home-away-from-home.
At Compass, we specialize in making the corporate leasing process as easy as possible for our clients.
If you’re wondering how to secure a corporate lease apartment, this guide will walk you through the process, from understanding what a corporate lease means to preparing your application and avoiding some common pitfalls.
What Is a Corporate Lease Apartment Anyway?
A corporate lease apartment is a fully furnished rental designed for business professionals.
They typically include short-term flexibility, professional amenities, and utilities bundled into the lease. They’re ideal for stays that last a few weeks to several months.
Key Features of Corporate Apartments:
- Fully furnished with modern furniture and appliances.
- Flexible lease terms to fit varying project lengths.
- Utilities, Wi-Fi, and housekeeping services often included.
- Convenient locations near business hubs or city centers.
- Access to amenities like fitness centers, parking, and more.
Corporate apartments focus on providing a consistent and hassle-free experience, making them different from other types of rentals.
Benefits of Corporate Leasing vs. Airbnb
While Airbnb might seem like a great option at first, corporate lease apartments offer a higher level of professionalism and consistency that vacation rentals often lack. Here’s a closer look at some of the differences:
| Feature | Corporate Lease | Airbnb |
|---|---|---|
| Privacy | High, with no shared spaces | Varies, may include shared areas |
| Consistency | Standardized furnishings and amenities | Quality can vary widely |
| Long-term suitability | Tailored for extended stays | Primarily for short vacations |
| Business amenities | Office setups, high-speed Wi-Fi | Limited or inconsistent |
Corporate leasing is especially great for business travelers who value familiar comfort over the uncertainty of short-term vacation rentals.
How to Start the Application Process
Getting a corporate lease apartment is a fairly straightforward process:
- Identify Your Needs
Determine the location, length of stay, and specific amenities you need. Do you need to be close or in walking distance to your office? Is access to public transportation a priority? - Research Providers
Look for trusted corporate housing providers like Compass. Check reviews, explore their offerings, and make sure they specialize in business traveler housing. - Contact Housing Specialists
Reach out to discuss your requirements. Compass provides personalized consultations to match you with the perfect unit. - Prepare Your Documents
Gather key documents like:- Government-issued ID
- Employer Identification Number (EIN) if renting on behalf of a business
- Proof of income or corporate account details
- Rental references (if applicable)
Documentation You’ll Need
Securing a corporate lease will involve submitting specific documents to verify your credentials. Here’s what you’ll typically need—having these ready will speed up the approval process and show that you’re a reliable tenant.
- Proof of Income: Pay stubs, bank statements, or a corporate guarantee.
- Employer Identification Number (EIN): If your business is leasing the apartment.
- References: Previous landlords or corporate references (if requested).
- Credit Information: A credit report or corporate credit account details.
Understanding Costs and Terms
Corporate lease apartments have unique pricing structures that differ from traditional rentals, but unlike traditional leases, they usually include flexible terms that can accommodate shorter stays.
A security deposit is usually required upfront, with the amount varying by provider, and some leases might include extra fees for amenities like parking, housekeeping, or pet accommodations.
Why Choose Compass?
At Compass Furnished Apartments, we care about giving you more than just housing—we focus on create great living experiences for our clients. Here’s why we stand out:
- Prime Locations: With properties in Massachusetts, Connecticut, and New York, we make sure you’re staying close to key business hubs and transportation.
- All-Inclusive Living: From utilities to housekeeping, everything is included, so you can focus on your work.
- Custom Solutions: Our housing specialists tailor recommendations to meet your needs.
- Trusted Expertise: With years of experience in corporate housing, we understand what business travelers and companies are looking for.
Whether you’re arranging housing for yourself or your team, Compass makes it easy to find the perfect fit. Contact our team to find housing today!
Common Mistakes to Avoid
Overlooking the Lease Terms
One of the biggest mistakes in securing a corporate lease apartment is not thoroughly reviewing the lease terms.
The fine print can include important details about cancellation policies, fees, and renewal options, so ignoring these terms can lead to unexpected costs or challenges if your plans change.
Take the time to carefully read through the agreement and ask the housing provider about anything unclear before signing.
Choosing Without Vetting
Selecting a property without proper research can lead to some serious disappointment.
Not all corporate apartments offer the same level of quality or amenities, so to avoid this mistake, review photos, read tenant reviews, and verify the property’s features match your needs.
Working with a trusted provider like Compass Furnished Apartments ensures you’re choosing a vetted property that meets professional standards.
Neglecting Amenities
Corporate apartments should provide all the comforts you need during your stay, and overlooking amenities like a fully equipped kitchen, on-site parking, or a fitness center can affect your experience.
Think about your daily routine and ensure the property has everything you need to stay comfortable and productive. Discussing your requirements with a housing specialist can help you prioritize the most essential features.
Quick Tips:
- Always double-check your lease duration and renewal options.
- Ask about hidden fees to avoid surprises.
- Verify that the apartment’s location suits your commute.
FAQs About Corporate Leasing
What does a corporate lease mean?
A corporate lease is a rental agreement designed for businesses or professionals needing furnished apartments for short- to mid-term stays. These leases often include flexible terms and business-friendly amenities.
Can I use my EIN number to rent an apartment?
Yes, many corporate leases allow businesses to use their EIN for rental applications, making it easier for companies to secure housing on behalf of employees.
What is the difference between corporate leasing and Airbnb?
Corporate leases focus on consistency, privacy, and business amenities, while Airbnb caters to vacationers and varies in quality.
What is a corporate apartment?
A corporate apartment is a fully furnished unit designed to meet the needs of professionals, often including utilities, housekeeping, and flexible lease terms.
Securing a corporate lease apartment doesn’t have to be complicated. By identifying your needs, gathering the right documentation, and working with a trusted provider like Compass, you can find the perfect home for your business travels.
Ready to simplify your corporate housing search?
Explore our corporate lease options in MA, CT, and NY today, or talk to our housing specialists to get started!
About The Author
Lauren
Lauren, a passionate marketing professional from Vancouver, Canada, has an insatiable love for travel. Whether it’s camping off the grid in a secluded forest or enjoying the bustling streets of Manhattan, New York, she embraces every adventure with enthusiasm.