How extended stay business travelers can find a great deal with 2nd Address.
For many of our business travel customers, the money they save on housing for their employees goes straight to the bottom line. One of the reasons they love 2nd Address is because of our affordability and value. Let me share some tips on how people are saving money with 2nd Address. Many are renting in cities like San Francisco and Los Angeles and getting prices less than $50 per person per night for fully furnished extended stay housing.
2nd Address is cheaper than a hotel or vacation rental because our units are priced monthly vs nightly. Hotels and vacation rentals need to inflate their prices to cover the high vacancy rates and the cost of higher turnover (cleaning, etc.). The average hotel has a 47% vacancy rate . 2nd Address landlords have vacancy rates much closer to 10%, so they can afford to give lower prices to their customers.
Not only are the prices much lower, but they are less volatile. A hotel price may vary by 100% or more within a given week. If a conference is in town, you can see 2 - 3x increases in pricing. It’s challenging for a company to budget for housing with this much volatility - with a 2nd Address rental you know exactly how much you are paying up front.
Here is some comparative pricing (our company name used to be "Homesuite"):
As a baseline, 2nd Address is cheaper than a hotel. Let me tell you how our most savvy customers are cutting their costs even further with 2nd Address.
1. Do the roommate math
The rule of thumb for rental occupancy is 2 people per bedroom + 1 person. This compares to a single room at a hotel that has a maximum occupancy of two people. If you are on a budget, do the roommate math. For instance, looking for three people in San Francisco, 2nd Address is 75% less expensive than the average hotel! While sharing a hotel room with a coworker on a trip isn’t everyone’s favorite idea, sharing a big, luxurious apartment or house is a great way to get a premium experience on a budget. If you can share amenities like a garage or even a pool, why not?
2. Do the food math
Eating out is pricey. The federal per diem rate for food in San Francisco is $74 per day, which adds up to $2,220 per month ! In Los Angeles it’s not much less, at $1,920 per month . 2nd Address rentals come with kitchens. Even more importantly, eating in can be more healthy and relaxing than eating out . In this day and age, employees and employers are becoming more and more conscious of health. Renting a 2nd Address with a kitchen is a great way to save on the pocketbook and save on the waistline.
3. Search tip: zoom out
This is a simple one, when you are browsing listings, enter your pricing and zoom out to find more listings. Let’s say you need a one bedroom in the Culver City area for less than $120 per night (that is $3,500 per month). If you are relatively zoomed in on this search, you will see 28 listings. If you zoom out just a bit, you will see 116 listings.
4. Search tip: check back often
Our inventory changes every day with new listings being added and updated. A rare property you are looking for could show up and be gone within a couple day period. Make sure to check back often on your search to find the best deals.
5. Search tip: filter for parking and laundry
Parking in San Francisco costs $350 per month . By searching through 2nd Address listings that include parking, you can save another $350 per month. Simply select the parking options on the Filters drop down on the search page.
Getting a unit with a laundry machine is both more convenient and a money saver. Simply select the laundry options on the Filters drop down on the search page.
If you're a corporate travel manager or relocation manager, you can find tons of great resources to guide your search here. On the other hand, if you're looking to book a place for yourself in the San Francisco area, start here.
Anything we missed? Leave us a comment with your thoughts.
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About 2nd Address
2nd Address is a leading provider of monthly furnished rentals for business travel. We are differentiated by combining the comfort of home with the professionality of a hotel. Our customers include Google, Facebook, Microsoft and thousands of smaller businesses. In addition to our business offering, we also serve individuals traveling for work and personal reasons. Founded in 2014, we operate across the United States with specific focus in large urban markets.
- 2nd Address studios and one bedrooms
- Johns Hopkins University Bloomberg School of Public Health. "Home cooking a main ingredient in healthier diet, study shows." ScienceDaily, 17 November 2014.