Whether you’re a new grad looking to get your foot in the door at a big company or planning an exciting internship semester in a new city for college credit, there are opportunities that may help you find and pay for temporary housing during your internship.
How does it work? Just because you land the internship of your dreams doesn’t mean you’ve got it made. If an internship is in a different city and doesn’t pay a full salary, there’s a lot to consider before accepting the position. How you’ll get there, what you’ll need to bring vs. what you can bring, your residence in proximity to the job, your transportation options, and cost of living on a low income are just a few factors. Opportunities with corporations that help interns find furnished housing, potentially assist with relocation (costs and arrangements), and offer a stipend to do so are rare, and therefore increase the competition amongst well-qualified candidates.
Corporations like Google, Apple, and Facebook, seeking the very best candidates in the tech space will offer relocation assistance to get an edge over competing employers. In America, companies are currently doing so at such a high rate that interns make up over 20% of residents in corporate housing in our country. Other industries, like healthcare, government, law, and finance are also eager to support incoming interns with housing in major cities where short term rentals are difficult to find and even harder to afford (for students and recent grads).
What type of assistance may they offer? For less competitive positions, companies may offer the resource of apartment-searching. This could include connecting interns with other students or interns to find roommates, suggesting rentals where short term leases are offered, or facilitating a conversation between you and a local real estate agent. Companies that can afford to offer a monthly stipend for rent may guide you on where to rent, but not “put you up” in a particular place. It would be your responsibility to find a rental that you can afford on the stipend. Lastly, there are large, powerful companies and government agencies that have the ability to relocate you and your belongings for the duration of the internship, place you in either a private or shared furnished rental, and cover your expenses, too. The benefits of furnished corporate housing are extensive. For example, furnished apartments are typically in desirable areas near to the job site, comfortably furnished with home-like amenities, and allow for convenient transportation around the city.
If the opportunity you desire doesn’t include paid corporate housing, don’t despair. The option is always available to find an opportunity in your city or communicate with the human resources department of your dream company to find suitable housing on your own.