How they work is pretty straight forward. Some companies, typically larger ones, will buy real estate and turn it into apartments that execs can stay at. They get the tax write off, etc..

Executive rentals is also a marketplace in itself. Some companies are in the business of renting out fully furnished units on a monthly basis.  Typically these companies don't own the property, they just rent it, and then rent all the furnishings from a Cort Furniture Rental type place, and mark it all up.  Charles E Smith is a big player in this market, I have stayed with them in the past and they have nicely furnished places around the country.

http://www.smithapartments.com/corp.asp


If you are looking to borrow someone's place rather than pay for it on the open market, how they work becomes a moot point. From my experiences, individuals don't really dabble in this market place. There's a lot of overhead involved and advertising/marketing so it's a corporate venture. I'd be surprised if someone would risk their job to loan you their companies apartment. Just my hunch. Surely the Charles E SMith companies of the world aren't into the practice of loaning them out either.

Hope this helps.

a home away from home. They are usually purchased, leased, or rented by a business entity for the purpose of housing employees who are on travel. They are usually quite spacious, are fully furnished, wired for everything, and for all appearances look like someone lives there full time. Some units are geared for a single tenant, while others are geared for multiple individuals at a time (like roommates in the good ol' college days).

They are far cheaper than hotels if a business has employees in town for days or weeks at a time. Employees don't have to pack and unpack between visits and they get to live out of a familiar space while working away from home. You can lease month-to-month, quarterly, or yearly. Some companies purchase them outright.

I worked for a company that purchased a couple of units in the locations where they did the most business. I would receive the keys and the address before I left home, fly out, show up, and for all intents and purposes, move in. I left a set of toiletries, clothes, and other personal effects there when I went home on the weekends. The apartment complex had maid and laundry services, so when I came back the following week the place was clean, and anything I left in the hamper was washed, ironed, and/or dry cleaned as appropriate.

It made travelling so much easier on those of us who travelled frequently. I rarely had to check anything through or carry anything on a plane. I also didn't have to worry about getting all my business stuff together on Sunday night.

It was also nice not having to eat out three times a day (not to mention healthier). I could go to the grocery store and stock the pantry, refrigerator, and freezer with food and beverages of my choice.

For the company I worked for, paying a mortgage on a property like that and paying a grocery bill was _far_ cheaper than expensing lodging and per diem (meals). I would typically be in a given location for about 3 weeks at a time. Hotels with the necessary ammenities to support me ran about $150 per night, and daily meal allowances were in the $40 range. So, figure about $200 per day times 15 days, and you get a monthly total of $3000. The corporate apartment, utilities, and grocery bill cost my employer less than half of that each month.

I don't know where you are located, but this company operates in southern California.