How important is Tenancy Management in a successful assignment?
When a company is preparing to relocate an assignee to a foreign country on assignment, the HR team takes into account the impact of cultural, fiscal and geographical differences between their current and new locations.
Property-related issues are a particular source of stress for any assignee as they are unlikely to be aware of the rules and regulations applying to temporary and rented properties in the UK. Key issues that can vary significantly from country to country are: ongoing property maintenance, utility payments and what happens at the end of the assignment. As a result, professional tenancy management in the host country has been growing in popularity because it provides the assurance that your assignee’s property needs are taken care of and any potential stress or misunderstandings are taken care of.
Why it is important to use an independent supplier.
When selecting a supplier to act as your tenancy manager, ensure that this supplier is entirely independent of the property industry. Independence is important because letting agents, short term accommodation providers, large agency groups and property professionals are hired on a ‘supply of service’ basis by their direct clients, the property owners. Each of these will have a primary duty of care to their clients - the property owners - and will work solely to protect their interests.
Selecting an independent company that is not affiliated with any of the chosen property providers ensures that care and attention is paid to your employee, the assignee, and impartial advice is given, irrespective of its commercial impact on the landlord.
Rushbrook & Rathbone offers independent, bespoke Tenancy Management services to the relocation industry. For more detailed information on our proven tenancy management service visit the dedicated Tenancy Management & Relocation Support page on our website.