Many people are surprised to learn that leasing a fully-furnished corporate apartment often costs less than staying in a hotel during the same period. They assume that because an apartment or condo offers more comfort and access to more amenities than a hotel room, it must cost more. The reality is that corporate housing is friendlier to the budget, even though it provides a fully-stocked kitchen, personal washer and dryer, and numerous other perks.

In this article, we\’ll explain why it is often so expensive to stay in a hotel room compared to a furnished condo. Some of the reasons are less than obvious. Before we begin, it\’s worth taking a moment to consider the difference in space provided by each option.

Size Comparison: A Hotel Room Versus A Furnished Apartment

Think about the last hotel room you stayed in. Chances are, there was a single area that was designed for sleeping, lounging, dining, and anything else you wanted to do. The remainder of the living space was set aside for the bathroom. Hotel rooms are not designed to provide guests with spacious quarters. Most standard units are approximately 300 square feet, just enough room to sleep and shower.

Corporate apartments and condos are distinct in a few ways. First, they offer a lot more room. A typical 2-bedroom apartment will measure nearly 800 square feet. Moreover, the space is divided to provide guests with separate areas to sleep, eat meals, watch television, and relax. Yet, despite the huge difference in size, corporate housing is usually less costly.

How Much Are Average Daily Rates?

With exceptions, the average daily rate for a hotel is similar to that for a fully-furnished apartment (assuming the same vicinity and time of year). For example, a hotel room in Fredericksburg, Virginia might cost $80 a night. The average daily cost of temporary housing, which is typically leased for a month or longer, would be similar.

Rates vary by location for both hotel rooms and furnished apartments and condos. But the main point is that the rates should be similar between both types of accommodations for any given location.

The Effect Of Hotel Room Taxes

The example rates used in the previous section were \”base rates.\” They don\’t include taxes, which are levied on hotel guests by state and local governments. These taxes generate revenue that can be used for repairing roads, building bridges, or constructing sports arenas. Unfortunately, they are hefty, ranging between 10 percent and 18 percent, depending on the city.

Hotel taxes have a major effect on the amount you pay for your hotel room. For example, suppose you\’re staying in New York City, where the hotel tax is approximately 15 percent. Suppose further that your room costs $170 per night. Applying the 15 percent tax, you would pay $25.50 extra each night. That equals $765 for the month.

Now suppose you stay in corporate housing in New York City, where your monthly lease breaks down to $170 per night. The difference is that you don\’t need to pay a hotel tax. As a result, you\’ll save the $765.

Saving Money By Cooking Meals

It\’s also important to compare the amount you\’ll spend on food during your stay. First, let\’s calculate your food-related expenses while staying at a hotel. Assuming three meals a day, none of which can be prepared in your hotel room (for lack of a kitchen), expect to pay $40 to $60 per day. Over the course of a month, you\’ll spend $1,200 to $1,800.

You\’ll spend much less while staying in a corporate apartment. Each apartment or condo comes with its own kitchen. You\’ll have access to an oven, stove, and microwave, as well as plenty of cooking equipment. You\’ll also have a large refrigerator at your disposal. If you cook your meals each day, your food-related expenses would be limited to the ingredients. Your grocery bill isn\’t likely to exceed $80 per week, or $320 for the month.

Although a hotel room and corporate apartment pose similar base rates, there are other considerations that greatly influence the amount you ultimately spend. Keep those items in mind when deciding where to reserve your accommodations.

Find out more information here and more information from www.DabneyProperties.com

Find out more information from http://www.dabneyproperties.com/fairfax-county-va-furnished-apartments/

Author Bio: Find out more information here and more information from www.DabneyProperties.com

Category: Travel
Keywords: Travel, Business, Corporate Housing, Rentals, Real Estate