Corporate housing is becoming the trend worldwide with corporate rentals in furnished apartments being preferred more than traditional hotel accommodation. Typically corporate rentals suit guests staying for over 30 days and are packaged to be cheaper than hotels.
According to a 2013/14 edition of the Global Serviced Apartments Industry Report, extended hotel stays cost 20 percent more, than corporate housing rentals on a 30 day period. That’s why major companies are opting for corporate rentals. That has led to revenues in these types of rentals increasing as more accommodation service providers globally, shift to that niche.
A recent report by Knight Franks shows that rent in Nairobi’s affluent neighborhoods dropped by about 8 percent in June 2016, compared to December 2015. The decline is caused by increased housing supply in Nairobi. As a result, this is giving firms who want to take up short term corporate rentals for their employees, a leeway to negotiate bargains with landlords.
In Kenya the Warwick Centre offers corporate rentals to guests in the plush Gigiri area. Their apartments are equipped with kitchens, bathrooms, microwaves, reading areas, balconies, washers, and dryers all to give guests a homely feel. In them, guests can prepare their own meals, and eat at their own convenience, unlike the traditional hotels.
Within the apartments are chemists, and beauty parlors, like at the Warwick Centre. There also is an outpatient clinic, foreign exchange bureaus and some of Kenya’s leading banks, all within the easy reach of guests. Near the Warwick apartments is the Java Gigiri Coffee house, and filling stations, traditional arts stores, and fashion stores.