You don’t need us to tell you how hard it is to find a job right now. Vacancies are few and far between and those that appear have hundreds, if not, thousands of applications. If where you live is hampering your efforts, why not move and rent your house out to be used as a corporate housing?
While a little extreme, if you’re not so tied to your home town, the idea of moving across the country to find a job isn’t such a leap. According to a paper from Freddie Mac, owning an underwater property, that is, owing more on a mortgage than the home is worth, is not keeping job seekers from relocating.
A survey of relocations and out-of-state moves conducted over the past three years shows the number of relocations due to work has not declined at all since 2007. That trend is set to be continued through 2012. It means somehow, employees are finding ways to offload their homes and move to their new job.
Recruiters themselves say that it’s hard to find the right person for the role sometimes, as many are tied to properties they can’t sell, or that are worth less than the mortgage. This presents problems on both sides of the fence which corporate rentals may be able to answer.
For those looking for work and who have a property they can’t sell, renting to a corporation is a definite option. As long as the property is a nice one, in a decent location and near to places of work, it may be perfectly suitable as a corporate apartment or rental.
Furnished apartments in downtown areas, or small family homes near technology parks are just some of the preferred options for corporate lets. Corporate apartments come in all shapes and sizes, and as long as they are of a good standard with an acceptable amount of living space, they are often snapped up very quickly.
The challenge of finding talented staff for industries that are geographically concentrated is unrelenting. For example, finding good people in and around Silicon Valley is a continuing challenge. There may be a lot of people out of work, but relatively few of them have the niche skills some of these employers desperately need.
That’s when they have to cast their net a little wider and look at regional and national markets. That inevitably comes with administrative challenges, but corporate rentals may be an answer. Not only would a furnished apartment provide a starter base for the new employee, it’s also a way for that employee to offload their own property relatively quickly.
There isn’t often an option that is truly a win-win. Corporate rentals are one of them. The only restriction is that the employee has to have a suitable property in which to rent out. If that requirement is met, there really is nothing stopping you moving to enjoy a new life in a new city, and letting your old home out to someone in the same position.
Recent Comments