Affordable Housing is a Challenge for Many Employees High rents, low homeownership and long commutes are negatively impacting employees’ financial and emotional health.
Rent Burdened
2 in 5 renter households spend more than 30% of their gross income on housing
Low Homeownership
Home ownership for Americans between 18-39 is at its lowest level in US history (41%).
Long Commutes
The average round trip work commute is 52 minutes, the highest in US history.
Uncertain Future
75% of Americans believe it is harder for today's younger generations to achieve a middle class lifestyle.
Hosted Software + Services
Benevate offers a comprehensive and customizable Employer Assisted Housing solution.
- Down Payment Assistance - One time contribution to help employees with the down payment for the purchase of a home.
- Rental Subsidy - Reccurring payment to a property manager for use in offsetting an employee's rental costs.
- Owner-Occupied Home Repair - One time contribution to help employees repair or rehabilitate their owner-occupied residence.
- Program Administration Outsourcing (Optional)
Benefits of an Employer Assisted Housing Solution
Housing Benefits provide a win/win/win for employers, employees and the community.
Employer Benefits
- Reduces training and hiring costs through lower employee turnover
- Provides a differentiated benefits package
- Improves employee morale and loyalty
- Enhances employer reputation
- Improves the real estate value of surrounding community
Employee Benefits
- Lessens the costs and barriers of home ownership (down payment)
- Increases the opportunity to build household wealth (equity)
- Reduces commuting time
- Improves identification and involvement in local community
Community Benefits
- Attracts and keeps a strong local workforce
- Stabilizes and/or revitalizes the community
- Reduces traffic and air pollution
- Increases the tax base
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