The Corporate Housing Providers Association (CHPA) recently released it’s annual Corporate Housing Industry Report for 2017. The industry overview report highlights market-specific benchmarking information on 62 North American Metropolitan Statistical Areas.
According to the industry survey the US corporate housing average daily rate (ADR) increased to $150.44 from $142.00 the previous year. With temporary living expenses being a major component of most relocation budgets Relocation America International has partnered with Reloquest and it’s groundbreaking temporary housing procurement platform to help reign in this cost.
Highlights from the report include:
- The number of occupied units has increased 12.5% since 2012. As residential apartment construction increased, the availability of units grew, as did accommodated demand. Recent research by Integra Realty Resources reported that the cyclical peak of apartment construction is expected in the next one to two years, indicating unit availability for corporate housing should be higher in 2017.
- Survey data is collected on the various types of corporate housing units including studio, one, two, three-bedroom and other number of rooms. This mix has been fairly consistent for the past nine years, with one-bedroom units making up 48% to 51% of inventory.
- The average stay in a US corporate housing unit was 86 nights an increase of two nights from the previous year. The average length of stay has trended upward since 1999.
- For the sixth successive year, relocation was the largest reason for using corporate housing in the US. Project/Training was the second most cited use of corporate housing. Technology and healthcare are the largest generators of corporate housing demand by industry.
For a complete copy of the report contact the CHPA by clicking here
About Relocation America International:
Relocation America International is a full service relocation management company located in Southfield, Michigan dedicated to providing innovative relocation services, value-added support, and superior customer service to clients relocating families domestically and globally.
Visit http://www.RAInternational.com for more information.
“What is carrier valuation?” Carrier valuation is a declaration by the transferring employee (person being moved) of the maximum amount of the carrier’s liability in the event of a transit-related loss or damage of their household goods.
Valuation is not insurance. In other words, valuation provides a certain level of protection for loss or damage caused by a carrier while the shipment is in the care, custody, and control of the carrier. The amount of coverage is predetermined prior to the move and may not be sufficient in the event of a loss.
WHAT DOES IT COVER?
When you move, your personal property is loaded onto a moving truck. While most moves go smoothly, accidents do happen and some items may be lost or damaged during shipment. Prior to the move a carrier representative will discuss with the transferring employee the amount of liability the carrier is responsible for in the event of loss or damage. At the time of the move a descriptive inventory list will be developed by the carrier and the transferring client. This list includes the count and condition of the shipped items when they come into the care, custody, and control of the carrier. At times the client may have certain items that carry a higher value than normal such as artwork, jewelry, collectibles etc….
It is our recommendation that items of high value such as jewelry, coins, and collectables be moved personally by the transferring employee. If they are is unable or unwilling to do this, then these items must be recorded and reported on a special form called the high value inventory form. The determination of the value of the transferring employee’s entire shipment is a very important part of the moving process and is pre-determined by the transferring employee prior to the move.
Relocation America International is proud to be a sponsor of this year’s Michigan HR Day.
On April 19, 2017, human resources and other professionals from across the state will meet in Lansing for the 8th Annual Michigan HR Day – Michigan’s largest annual HR conference.
Michigan HR Day is an opportunity for HR Professionals and Business Owners/Professionals, responsible for the HR function in Michigan, to exchange information, ideas, and experiences. The conference welcomes HR professionals from diverse Michigan organizations and is positioned at a critical time for Michigan organizations.
We look forward to what will be an informative and dynamic conference and hope to see everyone there. For full conference and registration details please click on the link below:
About Relocation America International
Relocation America International is a full service relocation management company headquartered in Southfield, Michigan dedicated to providing innovative relocation services, value added support, and superior service to clients relocating families domestically and internationally.
Visit http://www.rainternational.com for more information about our services or contact us at firstname.lastname@example.org.