Sponsored by Monday Properties and written by ARLnow.com, Startup Monday is a weekly column that profiles Arlington-based startups and their founders, plus other local technology happenings. The Ground Floor, Monday’s office space for young companies in Rosslyn, is now open. The Metro-accessible space features a 5,000-square-foot common area that includes a kitchen, lounge area, collaborative meeting spaces, and a stage for formal presentations.
As the spring turns to summer, one of many certainties in the D.C. region along with the stifling heat and humidity is the influx of interns from across the country.
And those interns, either still in college or recent graduates, typically are in need of somewhere to stay.
That’s where Capstay comes in, offering short-term rentals for interns in addition to accommodations for international students studying in the D.C. area. The company also offers short-term housing for professionals on temporary assignments, including for those in the military.
It was founded in 2015 by Dilek and Emre Yenici, and the majority of its rental apartments are in Crystal City, with some also in Fairfax.
The pair said they began the business after doing some market research and finding a lack of intern-specific housing in some states like California and the D.C. metropolitan area.
“The Crystal City, Arlington and D.C. area is expensive for housing,” said Emre Yenici. “There are lots of interns in the area throughout the year, and they are looking for short-term housing. We are trying to provide them short-term, pre-furnished, all utilities included housing to interns.”
Tenants can either have a private or shared room, or an entire apartment. All properties are fully furnished and have a variety of amenities like laundry, cleaning services and bicycle rental. Utilities are also included in rent, which varies depending on the season.
Apartments vary in size between studio and three-bedroom, and include all the amenities of the private and shared rooms.
Emre Yenici said Capstay has been proactive in partnering with universities and other institutions like language schools, government bodies and agencies that help match up prospective interns with companies.
The diverse nature of their client base means that while summer is a busier time for Capstay, there are still plenty of customers year-round, enough to keep their residences filled.
“We are trying to fill all our gaps with different customer bases,” Emre Yenici said. “There are some interns starting their internships in different times of the year, and other small groups are interning in other different times. They need shorter-term housing, so we fill our gaps like that.”
In the summer, the Yenicis said, they expect around 100 tenants, and so expand their housing stock to take into account the higher demand.
And in the future, Emre Yenici said Capstay could expand into the District to take advantage of the need for intern housing across the Potomac River.
“About 95% of our properties are in Crystal City, but D.C. is a good market,” he said. “The next step will be D.C., and we will try to expand our business downtown.”