Corporate Housing in 2021
It won’t come as a surprise to anyone that the last year and a half changed pretty much everything for everyone.
That certainly includes how we do business in remote locations, how we handle temporary assignments, and even how we relocate to start a new job.
Naturally, this has had an impact on corporate housing in Austin, Dallas, and other cities throughout Texas.
So, what does the situation look like going forward? What has changed in Texas and the corporate housing industry in general that may impact your plans for the future?
Let’s take a closer look at corporate housing in 2021.
Work Where You Want
The opportunity to work remotely has made a lot of people rethink their current living situation. Many of these corporate employees are looking at relocating for new opportunities, better cost-of-living situations, or just to get out of a crowded city.
This has added to the influx of people moving to Texas every year, and increased the demand for affordable, temporary housing.
Dealing with a Changing Housing Market
Of course, just because more people are able to move to their most desired location, that doesn’t necessarily mean that there will be a home that fits their needs and budget available there.
At the same time, traditional rental apartments are seeing higher occupancy as more and more people move away from their former residences and seek out something more affordable or enjoyable here in Texas.
This has made corporate housing options more appealing to many in the work force. A company that is recruiting new employees can help them stay in a fully furnished apartment with no long-term contracts. When a home becomes available, they can immediately move out without dealing with strict lease terms.
Corporate Housing for Anyone
There was a time when corporate housing was most often used by travelling healthcare workers, contractors, government employees, etc.
Things were already changing before the pandemic because the benefits of corporate housing made it an appealing option for relocation. It was an effective way to attract highly qualified employees and get them working as soon as possible.
Now, of course, it will depend greatly on how the company is currently set up. New employees can often get to work right away from a remote location and video chat into staff meetings. They don’t need to physically relocate immediately.
Unless, of course, they do.
The migration to Texas continues, and many companies have to find qualified people as quickly as possible – and they often need them to be on site.
So, we’ve gone beyond the travelling contract workers and are settling into a situation where people are either moving into the area to find a new job or are brought in to get started as quickly as possible.
Texas Just Keeps Growing
The pandemic didn’t do much to stop or slow the growth rate in Texas.
According to the figures, Texas makes up 8.9% of the country’s population, but it is responsible for 32.4% of the total growth between 2019 and 2020.
These numbers include natural growth and migration, and it works out to about a thousand people added to the population every day. People from all over the country are moving here, with California being the largest contributor.
There are a number of factors driving this growth. Despite the pandemic (and maybe in some cases because of it) people are looking at the benefits of living in Texas and choosing to move here.
The stable economy is one of the biggest attractions, of course. Huge companies like Tesla and SpaceX are setting up shops here, and the oil business continues to draw thousands of people.
The fact that there is no individual income tax is also a huge draw, and Texas is famous for business-friendly policies.
The pandemic changed a lot, but the need for quality housing options has really just gone up.
Expectations Keep Changing
The expectations around health precautions have changed the way corporate housing is offered.
While hotels and vacation rentals have found new ways to disinfect quickly between every customer, many people are still weary of staying in a place where they aren’t sure about their safety. What if something was missed in the last cleaning cycle?
Corporate housing in San Antonio, Dallas, and Austin has a slight advantage over those other types of stays. For one thing, corporate employees will be staying in these locations for weeks or months, not just a couple days. It is easier to feel safe and comfortable in a place that has seen one or two residents over the last year or so rather than hundreds.
Since the changes only have to be made every once in a while, we can focus on thoroughly deep cleaning and disinfecting the apartment between residents. We can also offer reoccurring complete housekeeping, with linens service to help stay ahead of the mess. You can choose the frequency that makes the most sense for you!
Corporations that are sending their people into a remote location – or putting them up while they find a new location – need to know that they will be safe. Full and complete cleaning to match current safety recommendations must be maintained.
A lot of things have changed over the last year and a half, even for corporate housing providers. We’re working to keep up with all these changes and continue to offer the safe, comfortable temporary housing you need.