Finding the right accommodation for assignments that extend beyond a typical short trip yet fall short of a full relocation can be a real hurdle. But there's a smart solution that's been quickly gaining traction: mid-term rentals. These flexible stays are a versatile answer to the nuanced needs of today's agile workforce.
In this blog, we’ll explore how these mid-term rentals can be a game-changer for your extended accommodation needs and how to leverage the right corporate accommodation solution to optimise mobility planning.
The essence of medium-term rentals lies in flexible housing, catering to professionals requiring accommodation for a specific period. Let's delve deeper into what this entails:
A mid-term rental refers to furnished accommodation available for stays that stretch beyond a week and under a year. It offers a sweet spot between the flexibility of short-term housing and the commitment of long-term leases, providing a ready-to-live-in solution ideal for project-based work, temporary assignments, or those in-between relocation phases.
Mid-Term Rental vs. Short- and Long-Term Stays
Unlike short-term stays, such as costly hotels booked on a nightly basis, mid-term rentals offer a more homely feel and often better value for longer durations. They sidestep the lengthy contracts and strict terms associated with traditional 12-month leases, giving you greater agility in travel management.
Serviced apartments, with their furnished offerings and additional services, can also be categorised as a type of mid-term rental when the booking duration falls within the typical mid-term range, highlighting the spectrum of flexible accommodation solutions available for your team.
Medium-term leases are designed with mobility in mind, allowing your team to focus more on workforce logistics rather than juggling accommodation complexities.
Mid-term rentals generally cover stays from one to six months, offering a significant advantage in terms of flexibility. This timeframe accommodates a variety of assignment lengths, extensions, or early returns, without the stress of constant rebooking and financial penalties.
For global mobility teams, a robust mid-term rental lease agreement template should clearly highlight aspects relevant to corporate stays. This helps streamline the booking process and ensures compliance with company policies. Ideally, a well-defined template contains:
According to the 2024 GBTA BTI™ Outlook, 76% of business travellers are now travelling the same or more compared to 2019, indicating a strong return to corporate trips. This shift, alongside varying assignment lengths and the rising popularity of "bleisure" travel, emphasises the importance of adaptable accommodation options.
Let's discuss why mid-term rentals, a key form of extended stay accommodation, are an increasingly popular choice for longer assignments.
Mid-term rentals provide a comfortable and home-like environment for employees on extended assignments, offering more space and amenities than typical short-term options. This helps them settle in and maintain productivity, bridging the gap until permanent housing is secured.
For your bottom line, mid-term rentals present a more cost-effective solution compared to prolonged hotel stays, usually providing lower rates for extended stays. Here’s a better overview of how mid-term rentals can bring value to your company:
From online rental platforms to relocation service providers, there are numerous sources for mid-term accommodations. However, not all offer the consistency, quality, or duty of care global mobility teams require. So, where do you actually find these adaptable mid-term stays?
You can find various online mid-term rental sites, from general property portals to those specialising in flexible stays. However, for a streamlined experience tailored to global mobility teams, comprehensive platforms like AltoVita offer a curated selection of vetted properties with the features and compliance you require.
When choosing a partner for mid-term rentals, these are the key qualities to look out for in order to ensure a smooth experience for both your company and your employees:
AltoVita is designed to be that ideal partner, embodying these crucial qualities. Our corporate accommodation platform goes beyond generic booking sites to provide a scalable and policy-compliant solution that addresses the challenges of global mobility.
AltoVita reimagines corporate accommodation management with an innovative approach to securing mid-term rentals. Leveraging the power of AltoVerse, we offer a centralised and streamlined system for planning business trips, specifically designed to meet the unique needs of your mobile teams.
Gain access to over 7 million vetted units across 35+ countries, thoughtfully curated for corporate stays of 7 days or more. Whether you're managing relocations, project-based assignments, or long-term business travel, our diverse inventory ensures consistent quality, employee comfort, and unwavering duty of care, regardless of the destination.
AltoVerse puts your mobility teams in control. Our intuitive self-serve platform offers instant search, streamlined booking workflows, and comprehensive reporting — all within a single, unified system. By combining proprietary technology with a human-centric approach, we deliver unparalleled visibility into your end-to-end accommodation management, ultimately elevating employee experiences.
Enhance your global mobility strategy with AltoVita. We eliminate the complexities of extended stay bookings, from transparent lease terms to seamless onboarding, by providing fully compliant, global rental solutions built for today's corporate mobility demands.