EMPLOYER-ASSISTED HOUSING NOW AN EMERGING STRATEGY TO HELP
BUSINESSES RECRUIT PRODUCTIVE, STABLE WORKERS

A group of business and government leaders are urging local companies
to offer assistance for workers to rent or buy homes in Las Vegas.

Some of the solutions include offering counseling for first-time homebuyers
and foreclosure prevention, matching grants for down payments, and even
short term loans to workers.

Businesses will benefit by employee retention, improved morale, greater
productivity and lower turnover.

Employer-assisted housing is another benefit provided by an employer, much
like vacation time, health insurance and retirement plans.

This isn't a new concept as Mining companies built and rented homes for miners.
It can be rental assistance, down payments, and closing costs on a home.
It could be grants or loans or matching funds.

Employers could offer 5 year "forgivable loans", if an employee stays with the
company for 5 years. That is common among hospitals facing a high turnover rate.

Employers can require that the home is within 5 miles of work so that the employee can get
there quickly.

Companies such as Aflac Insurance, Advance Foods, and CVS Pharmacy have used this
concept with great success.

A good example in Nevada is Primm where former owner MGM Mirage built rental units
for casino workers. More than half of the tenants since 2004 are still there today.