Every industry has its own language. If you don’t hear the lingo every day it can be a little confusing. The Corporate Housing Industry is no different. AHI works diligently to communicate with guests in a method that can be understood by all, but even then – there are terms that seem foreign to those not in the Apartment Rental or Corporate Housing industry.
We made a list of our most commonly used industry terms and what they mean. You’ll be talking like one of the pros in no time!
The Basics
These terms are used every day, all day and are often interchanged. They all mean just about the same thing.
Corporate Housing
Rented furnished housing to individuals, military personnel, and corporations, primarily for longer than 30 days. It generally consists of apartments, condos, and homes for guests to use on a temporary basis.
Temporary Housing
Renting out a furnished apartment, condo, or house on a temporary basis to individuals, military personnel, or corporations as an alternative to a traditional hotel or an extended hotel stay.
Furnished Apartments
Household essentials such as, furniture and appliances are included in the rental unit and factored into the rate. Sometimes linens and cookware make the cut, but not with every corporate housing provider. Everything listed above is included with AHI apartments. Here’s a list of all of our amenities.
Short Term Lease or Short Stay
Lease terms are for 30 days or less.
The Fine Print
Now, things can get a little weird with this next one. The lodging tax, by definition, is a consumer tax on the rental of rooms in hotels, motels, boarding houses, travel campgrounds and other such facilities for a period of less than ninety consecutive days.
The lodging tax varies state to state. Some states don’t have one at all, while a neighboring state may tax hotels but not corporate housing companies. See what I mean? Weird. It’s nothing a quick Google search can’t clear up though. We suggest doing some minor research on the lodging tax before you book your extended stay.
The U.S. Department of Housing and Urban Development (HUD) has an Occupancy Standard policy that AHI must follow. The policy states that “2 people per bedroom” are allowed to dwell in a rental unit. You may also hear some people say, “2 heartbeats per bedroom.” There always seems to be some confusion with how the policy should be interpreted. We follow it as a means to prevent overcrowding, which is why the policy was originally put in place. If you’d like to research more on this topic you can visit HUD.GOV.
Around The Office
Unit
A term used to describe an individual apartment home.
Move Outs
When a guest is moving out/vacating a unit.
Walk Through
A checklist that is performed after a guest has moved out.
1/1, 2/2, 3/2, 3/3
Referring to the number of bedrooms and bathrooms in a unit. The number of bedrooms usually appears first.
Notice to Vacate
Notifying AHI of when you will be moving out of your apartment. We use this date to determine when we can have the unit cleaned and ready for the next tenant.
Restricted Breed
Refers to breeds of pets, usually dogs that are not allowed in a unit. Sometimes there is also a weight limit.
The Rundown
Understanding these terms, even at a basic level, can benefit a guest greatly. And industry veterans have seen a huge return on their efforts to communicate more clearly with their clients.
You’re all set! As always, feel free to give us a call if you have any questions. We’re happy to help with your short-term housing needs!
