R3Location: Trusted Relocation in a Complex City
R3Location Limited offers an exceptional range of relocation services to companies moving assignees into London and the South East. We explore how this dedicated and professional firm has come to win Best for Relocation Services 2017 in our prestigious 2017 Global Excellence Awards.
London is one of the most diverse capital cities in the world and the largest city in the United Kingdom with 30% of its 8.63 million residents born abroad: a number that rises to over 10 million during the day as commuters make their way into the City. The Global Financial Centres Index (ranking of the competitiveness of financial centres) has ranked London first ahead of New York (in second place), and HK (third) and Singapore (fourth); and has done so consistently over the last few years.
Finding the right place to rent
With size comes complexity in all areas of life – including one crucial aspect of it: finding the right place to rent and live. Unlike other major Cities, London has an independent network of Estate Agents (Realtors) all competing against each other, and vying for the attention of the same Landlords and prospective tenants. In this multi-listed world, it can often be difficult for outsiders to make sense of the rental market. Consider this: a recent survey indicated that more than 200 estate agents have opened in London in the past year. The City of Westminster has the greatest number at 228. The company carrying out the research found that there are some 2,900 estate agents in the Capital, outnumbering the total number of independent butchers, greengrocers and fishmongers. This is a staggering number, “particularly when you consider most people now start their property searches online” says R3Locations Director, Marco Previero.
A far from perfect market place
This virtual market place isn’t perfect either. Online marketing details often portray the property in a better light, listings are not always up to date, and some of the more important information isn’t always present or accurate (e.g. is it still available, does it allow pets, what maintenance issues is it likely to have, will the Landlord consider a contractual break or an option to renew?). Even when criteria such as location and budget are well defined, online searches can be perplexing. A quick review of available properties on strict criteria for a threebedroom property in SW3 (Chelsea), for example, throws out 179 houses and flats, ranging from between £750 per week to £5,000 per week.
A similar search in SW7 (South Kensington) generates over 258 properties ranging from £10,000 a week to £595 a week. Yes, you’ve read that right. No wonder prospective tenants are left baffled and perplexed.
This leaves a gap in the market for support and advice on how to find the perfect property. Estate Agents are ultimately there to negotiate for the best interest of Landlords not tenants. Anna Barker, Director of R3location says: “Entering into a tenancy agreement is entering into a contractual arrangement. This gives important rights to tenants and landlords, but also sets out obligations and responsibilities for both parties.” Not all rental agreements are the same – and Agents often develop their own in-house versions. Most agreements need to be in line with conditions required by The Housing Act (this is true of Assured Shorthold Tenancies – most tenancies where the annual rent is less than £100,000 per annum), but this is not always the case. Prospective tenants don’t often think carefully before signing, pressured as they often are to finalise the deal. Alongside this, referencing can add to the frustration in what is becoming an increasingly more intricate world when it comes to compliance and data protection.
R3location: Filling the gap
To fill this gap in the market, R3Location was established in 2011, and thanks to its dedicated staff and client focused approach, since inception, the firm has reaffirmed its position as a specialist provider to FTSE100 and Fortune 500 companies, and is widely seen, not just as a destination service company, but as a trusted adviser on all matters relating to relocation into the capital.
The company offers an exceptional range of bespoke, high quality relocation services to organisations moving key executives into London and the South East. It is a multiple-award winning business, and is the only Central London based destination services company in the relocation industry with offices in St James’s Park. In offering a range of bespoke services (ranging from preassignment and home finding support, through to ongoing tenancy and departure support), it leads the way in how it delivers services, shares knowledge and best practice, communicates with the rest of the industry and acts as a trusted advisor to the mobility function of several large organisations.
The name R3Location stems from three interconnected areas:
• R3Location spells Relocation; the firm’s name defines the industry in which it operates, and is a constant reminder of the need to continue to challenge itself to be true to its Market, its clients and its people in how it delivers services.
• It stands for three core areas of support; R3Location focuses on providing support across the initial stages of the assignment, including home finding, ongoing support and departure services.
• Finally, it defines three dimensions and strategic guiding principles; the challenging economic environment has resulted in an increasing need to focus on the fundamentals at the core of delivery: quality execution, regulatory compliance and a sense of partnership. As a result, the business philosophy of the company is simple: reliability, reputation and relationships.
Led by two industry veterans, Marco Previero and Anna Barker, with over 30 years’ experience between them, R3Location is proud to continue to push the boundaries and set the standard for local destination services.
Company: R3Location Limited
Name: Marco Previero
Name: Anna Barker
Address: 83 Victoria Street, London, SW1H 0HW
Phone: +44 0 203 463 9774
Email: [email protected]