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Things You Should Know About Corporate Housing

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1. Investing in Corporate Housing. 2. Corporate Housing and Its Uses. 3. Benefits of Corporate Housing and Tax Issues. 4. Who Can Benefit from Corporate Housing Units? 5. Find Out How Interns Can Benefit from Corporate Housing. 6. Corporate Housing and Business Expansion. – PowerPoint PPT presentation

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Title: Things You Should Know About Corporate Housing


1
Things You Should Know About Corporate Housing
2
Synopsis
  1. Investing in Corporate Housing
  2. Corporate Housing and Its Uses
  3. Benefits of Corporate Housing and Tax Issues
  4. Who Can Benefit from Corporate Housing Units?
  5. Find Out How Interns Can Benefit from Corporate
    Housing
  6. Corporate Housing and Business Expansion

3
Investing in Corporate Housing
  • Renting out corporate housing differs from other
    renting opportunities. The investor comes into
    the property expecting to spend a lot more to
    make the space completely livable. The corporate
    housing renting spaces are lent out to
    corporations and other large businesses. Because
    of this, the investor makes the space as up to
    date as possible. He will also fully furnish the
    space, because these stays wont typically be as
    long. They will be on a more month to month basis
    rather than yearly.
  • While the investor may come to the start of the
    project with more out of pocket money typically
    they will end up with more money in pocket in the
    long run, depending on a few details. The
    investor has to do a lot of research to determine
    where to invest into a property. Not everywhere
    will be beneficial for corporate housing. The
    investor has to determine where corporations or
    business may want to expand. Large cities are
    typically a good bet as well as expanding areas
    around the country. Once this is determined, it
    is up to the investor to market their property.
    It is important to create great business
    relationships. Often times, a corporation will
    continue to use the same corporate housing again
    and again, because it cuts back on time and is
    simply easier. An investor wants a couple of
    corporations to do this. It guarantees good
    tenants and a steady cash inflow.
  • Investors also understand that they can charge
    more for corporate housing than they can for
    typical renting because of the clientele they
    reach and the fully furnished space they offer.
    Something else to keep in mind as an investor,
    however, is the other services that corporations
    will be expecting during their stay. They will
    most likely expect a cleaning service of some
    sort and dry cleaning. They will also want to
    know about the area and what is offered for them
    (dining, entertainment, etc). While this will
    cost more for the investor, it pays off in the
    ending price corporations are willing to pay.

4
Corporate Housing and Its Uses
  • In the past these corporate housing spaces have
    only been available to the elite corporations. It
    has been extended to those in the medical field
    that may need to temporary relocate based on a
    special medical case or for long term care for
    specific patients. Government officials also use
    these. Some officials may not fully live in the
    capital, but rather travel there when they are
    needed. They can stay in these corporate housing
    spaces instead of hotels. Lately, celebrities
    have chosen to use corporate housing as well to
    lessen the amount of paparazzi. It keeps them a
    little more hidden. There are other jobs that may
    deem corporate housing necessary as well.
    Sometimes a company simply has a large ongoing
    project with either another company or a branch
    campus. The business will then send its employees
    to the area temporarily to complete the project.
    Also, a corporation may simply be opening a new
    branch of its business. They will relocate a lead
    employee to the new area to oversee the start up
    and to help train new leadership for that branch.
  • In more recent years, corporate housing has been
    extended beyond only corporate use. The increase
    in natural disasters has left many families
    stranded and without a home or any of their
    things. The government and even some insurance
    companies have made deals with corporate housing
    owners to use their spaces. The stranded families
    have been able to stay in these corporate housing
    spaces for a set amount of time while they look
    for options of starting over their home. Many
    people have questioned this decision stating
    these families have not necessarily lost jobs, so
    they should be able to simply rent an apartment
    of some sort until they can figure out a new
    home. What these people do not realize is that
    these families not only lost their homes, but
    also their furniture, appliances, etc. It is not
    such an easy fix. Some of these families are also
    too large for a simple extended stay hotel. Also
    pets sometimes present a problem for these
    extended stay places, as well.

5
Benefits of Corporate Housing and Tax Issues
  • These corporate houses are fully furnished unlike
    other rental properties and have all the basic
    utilities for a comfortable living. These houses
    have fully equipped kitchens and functional
    bathrooms.
  • Unlike the hotel rooms, these corporate houses
    are as comfortable as your own home. You can
    enjoy your privacy and live in your own way.
    Nobody is there to interrupt you in the name of
    room service. For extended stays, being able to
    live in a home-like environment will certainly be
    a productivity booster.
  • These corporate houses supply you with all the
    required utilities be it internet service or
    local cable. You get washing machines,
    television, refrigerator, and other required
    electronics pre-installed in these houses. The
    houses also have sufficient stock of bed sheets
    and bath towels which can be changed as required.
  • Staying in a corporate house instead of a hotel
    is quite cost-effective. Despite all the
    available facilities, the rental charges of
    corporate houses are lower than that of hotel
    rooms. In addition, you can also save your money
    spent on food, as you have to dine out or order
    your meals daily while living in a hotel. On the
    other hand, you can cook your healthy meals
    easily at home due to fully equipped kitchens in
    corporate houses.

6
Benefits of Corporate Housing and Tax Issues
  • While the concept of corporate housing has its
    benefits, it is natural to have questions
    regarding your taxes. If your stay at the
    corporate house is due to a fringe benefit by
    your employer, it is considered as a part of your
    income and is subject to tax deduction. If you
    are staying there during the period of
    relocation, you have to bear the tax.
  • If you are traveling for the purpose of business
    and have to stay there as part of your work
    regime, like if you are a project manager and are
    staying at premises within the area to supervise
    companys upcoming project, the staying cost is
    excluded from your income and is nontaxable.
    People from civil service, government, education,
    and construction companies can benefit from this
    exception of a tax deduction.
  • Another exception from tax deduction is that if
    you have to stay at the corporate house for a
    long duration like a year or two then your house
    allowance will be deducted from your salary and
    this cost of staying at the corporate house will
    be included in business expenses and you don't
    have to pay the tax. So, be sure to consider
    these tax related issues when opting for
    corporate housing.

7
Who Can Benefit from Corporate Housing Units?
  • Medical researchers, nurses and health care
    officials who are traveling for some project or
    training
  • People from the entertainment industry like
    artists, directors, producers, and behind the
    stage crew who are traveling for shoots and
    recordings
  • Traveling workers and researchers from energy and
    fuel department
  • Consultants and corporate counselors staying for
    a series of seminars or training workshops
  • Temporarily reposted government and military
    employees
  • Project managers and engineers of construction
    companies for ongoing projects
  • Auditors, bankers, and other finance personnel
    traveling for auditing and other official tasks
  • Programmers and IT specialists from technology
    departments

8
Find Out How Interns Can Benefit from Corporate
Housing
  • Corporate houses often grab the attention of
    interns for their residential issues and they are
    the most frequent users of this housing facility.
  • If you are a graduate or undergraduate and want
    to explore the cooperative world and attain the
    firsthand experience of working environments, you
    should decide to explore various opportunities
    that often require relocating and staying in new
    cities and towns. The biggest concern of these
    struggling interns is to find a safe and
    affordable housing that is in close proximity of
    their workplace. This residential issue turns out
    to be the greatest obstacle in their way and
    often make them stick with less-than-perfect
    housing options.
  • Many companies and firms are well aware of this
    major concern of internees and facilitate their
    future employees by offering them these corporate
    houses. The employer often bears complete or a
    major part of the housing cost to attract the
    fresh graduates looking for better career
    opportunities. This strategy helps them in
    getting the brightest and capable employees for
    their firms as these interns of today opt for a
    permanent job after their internship in the same
    firm.

9
Corporate Housing and Business Expansion
  • Corporate housing may be the executive suite of a
    hotel, the top floor of an apartment building, or
    at rare times may actually be a single family
    home. The space comes fully furnished with
    furniture, appliances, towels, bed sheets,
    toiletries, a fully functional kitchen etc. The
    majority of the time, other services are
    included. There is usually a cleaning service, a
    dry cleaning service, and maintenance services on
    hand. This allows for the employee for a quick
    and easy move and transition to the new temporary
    location. The business sending them does not want
    to waste time and money on the employee having to
    search for a place to stay and then also have to
    wait for them to move and settle in. Not to
    mention, those costs add up quickly, especially
    when moving to a new state. The corporate housing
    speeds up the process and everything is already
    there waiting. The employee can move in and get
    right to work in the new branch location.
  • This sort of temporary housing also gives large
    businesses other options. Sometimes the ideal
    employee to send for the project is not alone.
    The employee may have a family or even pets. As
    silly as it seems and so minute to think about,
    the employee has to consider what to do with his
    furry friend if he will be out of town for an
    extended period of time. Boarding is expensive
    and not fair to the anima if it will be for a
    long stay. Corporate housing will, most of the
    time, allow for animals while extended stay
    hotels may not. The other consideration is
    family. It is unlikely that an employee will want
    to leave his family home alone for more than just
    a short time. Corporate housing ranges in sizes
    and very often accommodate the employees family,
    as well.

10
  • For more details, please visit
  • kansascitycorporatehousing.com/corporate-housing-k
    ansas-city

844-816-1218 info_at_kansascitycorporatehousing.com T
wo Pershing Square 2300 S. Main Suite
900-A Kansas City, MO 64108
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