With more and more transferees expressing the desire to rent in their new market, relocation companies and corporations are looking for options that offer solutions. Real estate companies might be the first logical resource in locating a rental property. Common knowledge suggests that most realtors have comprehensive home sale listings as well as accompanying rental listings. An apartment locator service may also be called upon, but if the transferee expresses a desire to live in a single family home—or town home then the apartment locator may not have access to these types of dwellings.
Another alternative is to find a company that specializes in “renter solutions”. Their objective is to listen to the needs of the renter and assist them within their new city to find the best options available to meet their requirements whether it’s a single family home, town home or apartment while also taking into account budgets, neighborhoods and other dynamics relating to their family and needs.
How can you choose the right renter solution?
- Determine what is important to you and your organization.
- Examine your current process and policies.
- Review and research current and alternative rental solutions.
And then ask some questions to help you choose the best rental solution:
- What is the goal in providing renters a service? To find options? Acclimation to the new market? A guided relocation? Assistance with all aspects of the move? Help negotiating leases? Tiered service levels to meet renter’s needs or policy?
- What other services are needed? Expense Management? Lump-sum administration? Policy consultation? Group move management? Reporting? International and domestic expertise? National coverage?
- What is the current policy for renters?
- When a renter receives housing options, is it acceptable that they may be biased?
- Is a single point of contact important?
- Is it important that each transferee receive the same level and service deliverables no matter the destination?
- Are metrics required? If so, what should be measured? Renter satisfaction? Time it takes to find permanent housing? Cost to relocate? Cost savings?
- Does the supplier have a specific plan or process for renters? How do they accomplish that?
- Does the supplier have a service commitment or guarantee?
- How is the supplier paid ~ a fee or through commissions from properties or core business partners? Is this important in decision-making?
- What feedback is currently received from renters, what are they asking for?
- What are the top three things desired in a rental service provider?
- Answering the above questions will assist you in determining what rental service provider will best meet your needs. Keep in mind that a failed relocation is the most expensive relocation, so you’ll want to choose your supplier wisely.
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