Corporate lettings are considered the Holy Grail of occupants for landlords across the globe. Higher rents, better quality tenants, extended leases, and safer income streams, offer everything the property owner or investor craves for, from their guests. But how do you track them down, and have them pick your property over anyone else’s?
Corporate estate agents and international relocation experts are the key partners for the property investor in such a case. The possibility of a 3-year term for a corporate lease is ideal for relocators, and shorter or mid-term options provide exactly the type of high-quality let most of their business users are looking for.
If you want specialist industry advice, this is it:
If you want a job doing properly—don’t do it yourself—ask an expert.
An expert in their chosen field has years of experience, contacts, and the correct qualifications to do the job better than anyone else, so why would you think you can take on the task yourself?
1. Corporate relocation experts
The corporate relocation expert has already done the hard work, making relationships with the businesses that need a property just like yours, and will help you to match with several suitable partners.
They have experience in dealing with HR departments and mobility managers in businesses that regularly relocate or home employees, clients, consultants, of directors, for international stays of between a month and up to 3 years.
A typical service provided by a corporate relocation expert will include:
· Complimentary consultations: Getting to know all about you and your property, understanding how to find the best possible match for you and your new partner.
· Carrying out a full search of appropriate businesses: They hold pre-existing options from their network or may chase further possibilities under investigation, from an alternative data funnel.
· Dedicated short- and long-term tenancy partners
· Organize viewings: Local branches will make themselves available to carry out viewings by prospective tenants, managers of HR departments, or global mobility managers.
· Assist with tenancy negotiations and contract creation: This should include all international legislation and compliance.
· Continuous support throughout the process: As an expert operating at a high-level, you should receive personal support, advice, and guidance at every step.
Corporate relocation experts are on a constant lookout for properties that fill any of their criteria. They will already have a database of tenants and properties—their role is funnelling further tenants and landlords into their systems, and matching them to each other.
2. Specialist corporate estate agencies
A corporate estate agency will hold an existing list of contacts and clients. This type of business operates solely to match corporate clients to rental properties.
Investors with a portfolio of apartments will need a regular turnover of occupants to fill each of their investment properties, and that means employing a partner with a substantial portfolio of clients. Searching out the best fit for their needs means finding a partner with an existing or continually updating list of suitable tenants.
3. Estate Agents with relocation and corporate specialist departments
As well as the specialist corporate estate agencies, you could also engage with any mainstream estate agent that has an active relocation or corporate lettings department.
This type of agency tends to operate in more affluent areas, where landlords require a higher-level and more desirable tenant, or within areas of industry that demand the continual housing of workers and specialists visiting, and working with, their business.
As part of their typical agenda, any such agent will already have established relationships with a selection of relocation agents, HR personnel, and global mobility managers.
4. Global Mobility Managers and HR personnel
For any landlord hoping to carry out the task of landing a corporate let by themself, one area they could aim for is to create relationships with any company that has a global mobility manager in its team. Global mobility managers are hired to organize their international relocations and accommodations. However, they’ll be used to dealing with agencies and professionals. The chances are that they’ll frown upon any DIY approach—unless you can convince them that you have the extensive experience to match the partners they’re used to working with or a property and price they can’t resist.
5. Tenant matching platforms
A more recent contender to the market would be to use some of the digital platforms designed to match tenants to properties. By listing your apartment (or apartments) with any such online agent, you’re open to being found by any HR department or mobility manager looking for suitable properties in their desired location.
Tenants and properties are vetted and verified, with contracts and payments are managed online, simplifying matters and containing all legalities within its system.
These platforms aren’t quite considered as acceptable systems for corporate lets just yet—with traditional methods still being the leading players in the field. However, as technology advances and this type of system becomes more widely accepted, it may only be a matter of time before they take over. Just look what Airbnb did for short holiday breaks for every budget.
Let us find the right guest for you—corporate or otherwise
We are the experts in our field. UpperKey has years of experience matching high-end tenants to high-end properties, across European capitals and cities in every corner.
What we do better though, is we don’t just find you a tenant, we take care of every last step of the process. It’s our job to vet your guests, more often than not, utilizing our database of corporate tenants to make sure we fill your apartment for as many days of the year as humanly possible. You’re not tied to a single company let tenancy either.
Because of how we work, we place guests from all kinds of businesses, from our many corporate partners, to make sure you have the high-quality tenant you need.
And if we don’t manage to fill your property year-round? Well, you still get paid. We guarantee your rent to give you the peace of mind that taking on the work yourself could never provide. You won’t find an expert in the field quite like us. If you’d like to know more about how we do what we do—and how we do it so well—give us a call, and one of our advisors will be happy to answer any of your questions.