ShareThisIf you've been laid off, paying the bills is near the top of your long list of worries.
But an Ohio company is offering two months of rent-free living to laid-off residents at its 25 properties.
Goldberg Cos. came up with the Layoff-Proof lease after seeing a similar offer from Hyundai in which the carmaker lets customers out of their leases if they are suddenly unemployed.
"What's been happening for us is people have come to look at our property but when it's come time to make a decision, they've been hesitant to sign," said Senior Vice President Eric Bell. "The main reason is because they are uncertain about their future."
The deal is good on new leases and renewals of at least 12 months. One catch: Residents must have paid three months of rent before they are eligible to claim two months of free rent.
Other than that, Bell said, there are no strings attached.
"If you find a job within 60 days, we ask you to notify us and start paying rent again," he said. "But at the end of 60 days, if you haven't found a job, you can terminate your lease and walk away."
Bell acknowledged the program is a business strategy, aimed at keeping residents through difficult economic times.
"Ideally, if someone loses their job, they're able to find another job and continue to be a resident of ours," he said.
And it could just be smart business, which is why more companies are offering similar recession-themed promotions, added Robert Passikoff, president of Brand Keys, a New York company that studies brand loyalty.
"It differentiates their product, and it has great emotional resonance," he said. "It's the difference between the guy that's going to throw you out on the street and the people who are going to help you out."
E-mail Sue Stock at sue.stock(at)newsobserver.com
(Distributed by Scripps Howard News Service, www.scrippsnews.com.)
Must credit The News and Observer of Raleigh, N.C.
