12 Mar How Global Mobility Specialists Save Money on Corporate Housing
Is there really a way for global mobility specialists to save money when you have incoming and move-in transferees and you want only the best for them? That is, you found them a great job, but you know that for them to keep liking that cushy job, they must like their living arrangement as well
It’s not always easy when you want to spoil them, of course.
Having your own temporary corporate housing services can be costly. It’s a legal real estate transaction that requires leases, which can constrain arrival and departure dates for your transferee. Working with corporate housing providers, it’s just a matter of picking up that phone to arrange the accommodation for your talent. You won’t need to sign leases, which is always a costly affair as it involves a lawyer as well.
You also have to realize that what sounds expensive only sounds like it when it’s not. Case in point: You think you can save money by finding the housing for your transferee yourself, but the time it took you to find one if you spent the whole day doing this yourself is cost by itself.
So where do you strike the balance between saving and making your transferees happy?
Understanding temporary housing is tricky. Global mobility specialists rely on corporate housing providers so it doesn’t have to think of moving from one service to another–also a costly affair when you consider the time it takes to negotiate housing for your transferees.
Recognizing the benefits of sticking to one company also allows you to make informed housing decisions for your transferees. This is when the business relationship you forged takes on a “partnership-like” level, as if you have a housing department but which is actually separate from your work as a global mobility specialist, already a demanding job in itself.
But there are so many ways to save money in corporate housing if your transferees accept your suggestions. You can offer customized packages that work for cost-conscience transferees. For instance, an apartment can be rented with the full package or with some compromises along the way. You just have to make it a win-win offer for them. If they would like to save money, here are some options for you and your transferee to consider:
- Pair people in the same apartment. It’s definitely not the norm; who knows if the company’s culture would be open to it, but if you can put one person in one bedroom and another person (same gender) in the other bedroom, that you can cut the spending in half.
- Look for B-level properties where the property may be older, have shared laundry facilities (as opposed to washer/dryer being in the unit), and have fewer amenities (no pool table or movie nights at the community’s private movie theater).
- Move farther from the hustle and bustle of the city. Driving time may be 10 minutes to 30 minutes or more to work, but if the transferee is ok with it because he prefers some quiet time out of downtown, it may just work.
- Secure dedicated housing in slow times. Corporate housing, like the hotel industry, changes rates based on seasonality (hence, demand because of volume of corporate travel). If you can book an apartment for 7 months starting in December, then you will already have that same apartment during the summer months when rates double up. (DC)