Healthcare Staffing Report: Nov. 13, 2014

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With rents rising, vacancy reduction crucial for housing cost savings — Sponsor Content

The recent vacancy report from real estate data provider Reis held both good news and bad news for healthcare staffing agencies and other frequent users of temporary housing.
The good news? In the third quarter, the U.S. apartment-vacancy rate inched up from 4.1 percent to 4.2 percent, the first time this rate has risen since 2009. According to Reis senior economist Ryan Severino, the vacancy rate is expected to continue “to slowly drift upward” as supply increases — more units will be completed this year than have been since 1999 — but still remain below 5 percent through 2018.

The bad news? Despite the increased vacancy, rents are still rising, especially in hot real estate markets like San Francisco and Seattle. Reis attributes this situation to the fact that new apartments are being priced higher than average and notes that rental rates are currently at record highs.

In this environment, one of the most effective ways healthcare staffing agencies can lower their housing costs is by reducing their unexpected vacancy expenses. Fortunately, there is a new tool to help you reduce these costs.

Travelers Haven’s Vacancy Reduction Exchange enables healthcare staffing firms to easily backfill leases when unexpected vacancies occur. Firms can confidentially advertise their vacancies to the healthcare industry as well as search available apartments to meet their own temporary housing needs. Using the

Vacancy Reduction Exchange combined with Travelers Haven’s back fill processes, partners achieved a record low vacancy rate of 1.8 percent in the second quarter of this year.

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The Vacancy Reduction Exchange is available to all of Travelers Haven’s partners through the Travelers Haven Portal, a new centralized system for housing management. Via the portal, healthcare staffing agencies can also estimate housing costs using our location-based Budget Guide, assess individual traveler risk, and view and manage all active leases.
To learn more about how Travelers Haven’s Vacancy Reduction Exchange can save your firm money, or to request a demo of the Travelers Haven Healthcare Housing Portal, call 877.592.9444 or visit www.TravelersHaven.com.