PorchLight Rental Releases 2013 Cost Savings Case Study

STOW, Ohio, Sept. 25, 2014 /PRNewswire/ -- PorchLight Rental, a leading relocation assistance firm specializing in finding rental properties and providing destination services for renters, released a case study supporting significant savings when using their services.

Renting in America is at an all-time high. Mobility professionals are hearing about the difficult fast-paced market and time involved in rental finding. This often results in exceptions to policy, temporary housing extensions and in some cases an employee's new job starts negatively.

Relocation Management Companies and Human Resource professionals are spending unnecessary time and money on temporary housing.

In a 2013 Case Study of 1,214 renters companies saved $2.7 million in temporary housing. Per renter, an average of 17 days, or $2,227* was eliminated. Comparing the 17 days eliminated to the average temporary housing authorized (35.5 days), this equates to 47.6% cost savings.

Finding the right rental home in the right community that closely replicates a preferred lifestyle is difficult for those needing to relocate quickly. Moreover, when children are involved, the schools are a top priority. Having the right support through the acclimation and rental-finding process is critical to a successful move for the entire family, not just an employee.

PorchLight conducted a similar study in 2003 with over 126 renters and had consistent results saving 72.5% of the authorized temporary housing. On average the renter used 8 out of 29 days authorized, reducing temporary housing by 21 days, or $1,638* per renter.

*Based on CHPA Industry standards for temporary housing at an average rate of $131/day in 2013 and $78/day  in 2003.

The study showed that despite these challenges, employers offering rental assistance in their policy could reduce overall relocation cost. 

PorchLight provides assistance for those relocating including rental finding tours, area acclimation and destination services. Employers using PorchLight's services expressed a decrease in their stress and time spent.

"PorchLight is important when moving to a new city because finding the right home and neighborhood to match one's lifestyle makes the difference between a successful move and a failed relocation," said Diane Ayres, PorchLight Rental's president.

PorchLight works within the stipulations of relocation policies to quickly find transferees a long-term rental. Since 2003, the firm has served companies in the United States and Canada providing unbiased rental options, quality local information and continued support until the rental is complete.

Click 2013 Case Study for more information www.porchlightrental.com

SOURCE PorchLight Rental and Destination Services