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Maria Risbara
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How to
How to help your employees find rental housing in Maine's tight market
By Maria Risbara, guest columnist
Finding an apartment has become increasingly challenging across much of the United States, and Maine is no exception due to the national housing shortage. Low inventory and increased demand mean that available units move quickly, and that Maine businesses may struggle to attract needed workforce.
Employers in Maine are reporting that recruiting has become increasingly difficult, and that employees have struggled to secure suitable rental housing near their jobs. However, as an employer, you can play a meaningful role in helping your team navigate this market.
Here are some practical tips to help employees find their next apartment.
Education and transparency
Start with transparency: the rental market is competitive in Maine due to the severe housing shortage and units often rent within days, if not hours, of being listed. Property management companies must abide by a first-come, first-serve application process to ensure fairness in the market and to comply with federal laws.
Educating employees about speed and preparedness will enable them to act quickly to avoid missing opportunities. Large companies have started partnering with property management firms and listing sites to access housing-market reports, and to provide real-time updates on available properties to ensure employees are on top of the latest opportunities in the rental market.
Preparation and professionalism
But speed isn’t all you need. Even if you’re first, you may not be chosen if you’re not prepared.
Much like a job interview, a rental application, even if completed electronically, is a first impression. Be prompt and professional in email correspondence and present as if you’re trying to be selected.
Show up on time, with all needed documents in hand, for all apartment showings and dress for success. And even more importantly, understand where your strengths are as an applicant and identify areas where you may need to improve:
- Credit score: This number reflects your reliability to creditors using factors like payment history, amounts owed to creditors, and a mix of credit types. (FICO considers a “good” credit score above 670,“very good” above 740 and “exceptional” above 800.)
- Rental references: Prior to your application, ask previous landlords, long-term coworkers and perhaps previous supervisors to provide rental references in writing.
- Income qualifications: Many property management companies and landlords look for monthly income levels that are at least twice the amount of the monthly rent. Applicants could consider having their employment letter on hand to speed up the application process.
Support system
Property managers appreciate applicants who submit accurate, complete and well-organized information. As an employer, encourage employees to gather needed documentation in advance so they can apply the moment they find a suitable unit.
Many employers have started offering an employee rental packet, which includes a checklist of needed documents: letters confirming employment, references and income verification.
Develop partnerships with large, reputable property management firms to secure real-time (or early) updates on available listings, or perhaps even offer placement services for incoming hires.
Collaborative approach
Maine’s housing shortage is impacting all of us — businesses are challenged to recruit and maintain staff, and employees want to live close to their jobs in suitably priced, comfortable housing.
Being collaborative, supportive and well-prepared will deliver key advantages to your current and prospective employees to secure housing and reduce the stress of finding their next home.
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