Every employee relocation is unique. It is for this reason that companies are constantly evaluating the costs associated with successful employee relocations and are looking for ways to optimize their spending. Employees and their families have a lot on their plates as well – not only thinking about the upcoming changes the relocation will bring to themselves and their families, but also the specific details and challenges the move will involve. One of the most important services that a company can provide to a relocating employee is assistance with finding a perfect home in the employee’s new destination. Finding the perfect home is one of the most important factors that contributes to a successful relocation.
Rental assistance involves more than simply looking for a vacant apartment. Our team of experienced relocation experts begin the rental search by referring to the criteria provided by the relocating individual and/or family. Our Specialists will use this criteria to find an apartment, condo, or house that will be both cost-effective and comfortable. Understanding the unique needs of each employee and their family is crucial when working to find a new home. We’ll do the research and find a rental home that jives with the various requirements that each family has, including education, recreation, transportation, religion, daycare, access to shopping, and dozens of other key factors. Overseas moves can present more challenges beyond real estate assistance. Our team will aid in providing settling-in services, area orientations, enrolling children in schools, and various other services to help the assignee and family excel and feel comfortable in their new environment.
Generally, it’s easier to relocate an employee who rents a home as opposed to one who owns a property. Selling a house is rarely an easy process. It can be both time consuming and expensive. A quick real estate sale can often result in both the assignee and the company being disappointed by the final outcome. Setting up a mortgage can be a time-consuming and sometimes challenging process for many relocating employees, especially those moving from overseas locations. Relocating an employee who is renting can save a company a lot of money. A 2015 survey conducted by Worldwide ERC found that companies spent an average of $71,803 USD in 2014 to move a homeowner as opposed to an average of $23,766 USD to move an employee who rents.
There are various reasons why employees prefer renting in their new city as opposed to purchasing real estate. Renting a home provides more flexibility for workers, allowing them the ability to purchase a permanent home and put down new roots once they are ready to commit long-term to an employment opportunity. It takes time to learn about a new city and it makes sense to purchase a home once an employee has a better feel for their surroundings and local preferences.
There’s usually a need for assignees to move quickly. A well-designed relocation package will help the employee navigate through this process and provide fair compensation from the quick sale of their home. Renters will typically face a contractual penalty for breaking a lease agreement. Most relocation plans will also take this personal expense into account and provide fair compensation to the renter.
Welcomehome’s specialists will present each assignee with various rental options, putting them in the driver’s seat throughout the entire moving process. Over the years we’ve helped thousands of people and their families relocate and we know that there’s no such thing as a one-size-fits-all solution when it comes to finding the perfect rental. Our team will be there from start to finish, making sure that everything runs smoothly, and it is as cost-effective as possible.
Many relocation packages include a home finding trip, and it may be beneficial to have an additional outing if needed. Not only does this give the employee and their family an opportunity to see their new home options in person, but it also gives them the ability to explore their new surroundings with an area orientation. The Internet does a great job at providing general information, but it does not compare to the experience of seeing a new city in person alongside an experienced, knowledgeable relocation specialist. Specialists can also provide relocating individuals and families with detailed information on what they can expect from the rental market in the new destination, in addition to a thorough overview of the various neighbourhoods, amenities and on-the-ground support.
A well-designed employee relocation package works for both the company and the employee. Companies want to save money while at the same time ensuring the employee and their family have everything they need to make the move comfortable and stress-free. Successful relocations save money and allow the employee the ability to hit the ground running when they arrive at their new location. A strong relocation package can serve as an excellent recruiting tool, helping a company attract top-notch talent – something that’s critical in today’s global job market.
At Welcomehome Relocations, our goal is to provide our clients with experienced, personalized employee relocation services. We have a strong track record of exceeding the expectations of both companies and employees as they navigate through the relocation process. Contact us today to learn how our specialists make employee relocations stress-free.
For additional information on rental costs in various locations across Canada, please visit: Rental Surveys. Our downloadable Rental Surveys are available for Calgary, Edmonton, Fort McMurray, Montreal, Toronto and Vancouver. Each Rental Survey is updated on a quarterly basis and includes sample monthly rental costs for basic to luxury properties, one bedroom apartments to five bedroom homes, as well as furnished temporary accommodations and unfurnished rentals. We can also provide you with access to view Rental Surveys for previous years, or you can inquire about requesting a Rental Survey for a specific location by contacting us.