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As more corporations shuffle workers in and out of New York for specific projects and training, short-term housing--rather than wholesale relocation--is increasingly the move of choice.
The leasing market has responded. And many landlords with overstock are turning to companies such as Rarnished Quarters or Oakwood Corporate Housing to help lease their places to short-term-stay corporate travelers.
Short-term stays must last 30 days or longer, according to state law. Steven Brown, president and cofounder of Furnished Quarters, says the average stay at one of his company's 700 rooms in New York City is 110 days. Brown says the rooms aren't just used by corporations, but also by people who are moving out of their houses during a renovation, people in the entertainment industry who are in town to do a show, people who are traveling internationally, and people who are taking advantage of New York's hospitals and medical research.
"When we are sending employees for short-term stays, we try to make it easy and homelike," says Monica Allen, benefits administrator for EMI Music North America Inc. "We can do everything on the Internet, and our employee can just show up, get their keys, and move in. It's stress-free."
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