Corporate vs. private lets for relocations

Which is best for your business?

As an employer, you have two clear choices when it comes to securing rented accommodation for your assignees: a corporate or private let. While the type of let you choose depends entirely on the circumstances of a relocation – for both you and your employee – there’s an increasing trend for organisations to move away from the corporate route.

What is a corporate let?

If corporate lets were an item of clothing, they’d be flared jeans. Put simply, they’re not in vogue anymore and the reasons are simple. However, before we get into the whys and wherefores, let’s start by finding out exactly what they are. According to leading online letting agent, Upad, a corporate let occurs when:

“A company secures the property on behalf of their employee…because they’re relocating from abroad. Under this arrangement, the company – not the individual – is responsible for all the tenant’s obligations, including the payment of the rent and all the utility bills.”

Disadvantages of corporate lets

So, why have corporate lets become less popular with employers? The reasons can be divided into three clear categories: workload, risk and resources.

Workload:

Risk:

Resources:

Advantages of corporate lets

Despite falling out of favour, there are certain circumstances where corporate lets can be beneficial:

 

Simply London can help whatever your relocation requirement

Whether you insist on assignees signing their own tenancy agreement, or you buck the trend and decide a corporate let works for you, Simply London – London’s leading relocation agency – can help. Having already assisted with the home search process, we can help you and your assignees to arrange, negotiate and manage any type of tenancy agreements from start to finish. These specialist services – together with our school and settling in offerings – free up time for your business to focus on achieving its objectives and your assignees to concentrate on their new role.

Would you like to discuss your employee's move to London with us? Send us a message, or schedule a call with Sylvie.