House Watch Services
The Challenge: Employers today are facing an unprecedented challenge in convincing key employees to take temporary job assignments away from home. The depressed real estate market forces consideration of the following negative choices:
The lease alternative has been the preferred alternative in times when inbound relocating families provide high demand for highly desirable properties. With the slowdown in inbound assignees for most of US cities, this option is not always viable today. The concern for liabilities associated with lessees damage to property and/or failure to properly care for the routine maintenance has further discouraged many clients from using this alternative.
RRA Partner Solution:
We believe the times call for new creative solutions to this current dilemma. Traditionally, the vast majority of assignees and their families will be returning to their home cities following this temporary assignment whether it be 6 months or three years. Our offer is to provide a concierge service for the care of homes unoccupied by the owner, so that the family home is maintained in pristine condition for the family return.
The service will be provided by competent and experienced relocation industry professionals. All agents will be bonded and the service provider covered by required liability insurance. The process followed will provide thoroughness, high attention to client needs, clear communication and rapid response to urgent needs. Cost for this service will be substantially less than the alternatives previously available.
- Employee: sell the home at a loss of equity (perhaps total investment) or negative equity needing to be addressed at closing
- Employee: sell the home at a short-sale if the bank is willing to avoid foreclosure; the mortgagee of course will take a negative credit report hit
- Employer: purchases the home for inventory to be later sold; historical benefit but now rarely available
- Employer: reimburse the employee for loss on sale (increasingly unlikely today, even with a cap an amount for key employees)
The lease alternative has been the preferred alternative in times when inbound relocating families provide high demand for highly desirable properties. With the slowdown in inbound assignees for most of US cities, this option is not always viable today. The concern for liabilities associated with lessees damage to property and/or failure to properly care for the routine maintenance has further discouraged many clients from using this alternative.
RRA Partner Solution:
We believe the times call for new creative solutions to this current dilemma. Traditionally, the vast majority of assignees and their families will be returning to their home cities following this temporary assignment whether it be 6 months or three years. Our offer is to provide a concierge service for the care of homes unoccupied by the owner, so that the family home is maintained in pristine condition for the family return.
The service will be provided by competent and experienced relocation industry professionals. All agents will be bonded and the service provider covered by required liability insurance. The process followed will provide thoroughness, high attention to client needs, clear communication and rapid response to urgent needs. Cost for this service will be substantially less than the alternatives previously available.
