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Employer Sponsored Mortgage??

Employer Sponsored Mortgage??

Old Aug 23, 06, 9:53 am
  #16  
 
Join Date: Apr 2002
Location: Pennsylvania
Programs: HHonors Silver
Posts: 4,030
Originally Posted by Quokka
What does any of this have to do with Discussion of the latest 'frequent flyer program' buzz...only! ?
The option the OP is considering involves the loss of opportunity for hotel points. I agree that the OP has not considered this trade off very thoroughly.
pdhenry is offline  
Old Aug 23, 06, 4:14 pm
  #17  
cur
 
Join Date: Mar 2005
Programs: fwp blood diamond, dykwia uranium
Posts: 7,060
Originally Posted by ftweb
Yeah, but with the condo you get to leave your toothpaste, deodorant, shaving cream, even clothes there, which means you can travel with barely any luggage and not check anything.

If you are really spending 1/3 of your time in Atlanta, I'd think having "your place" there would make life a lot easier.
I agree with the sense of having a home. BUT THE POINTS!
cur is offline  
Old Aug 23, 06, 9:31 pm
  #18  
Original Poster
 
Join Date: Jul 2005
Location: BUR/LAX
Programs: SPG Platinum,Hilton Diamond,Hyatt Diamond,WN Companion Pass, AA Plat, Hertz Plat
Posts: 225
First of all, thank you to everyone who took the time to respond. Sorry that Quokka didn't like the location of this discussion, but, if there is a better forum to use, I'll difer to the mods.

I realize that this proposal was not going to be popular with my fellow travelers who crave the POINTS!! However, if I could have 50% of a third home financed by my employer, I was willing to earn my points through other travel.

After all, it would be very nice to sleep in your own place during these business trips. As ftweb pointed out with the recent travel restrictions, having my toiletries at this location would be a great convenience.

As for the tax implications, my proposal was that my company would simply view this as an expense similar to their reimbursement of my current hotel costs. The other way to look at it would be an increase in a per diem as suggested by johnndor.

As for suggesting a corporate apartment, I wouldn't give up the points without the benefit of help with a mortgage. I also wouldn't suggest this idea unless I was certain of my status with the comany. I have worked with this company for 20+ years and feel that in my position, that my job is pretty secure.

With all that said, I made a nice proposal today, and was essentially shot down. The company will only consider the hotel route and may be consider sharing in the corporate apartment concept. No real explanation, just the infamous quote of "Thats our policy".

So, you'll see me hanging out at the nearest Hyatt, Hilton or SPG property in ATL. For my fellow point fiends, I hope you'll welcome me back to the fold.

Thanks again for all your great responses!
onefreetraveler is offline  
Old Aug 24, 06, 2:11 am
  #19  
 
Join Date: May 2006
Programs: UA 1K
Posts: 248
Originally Posted by cur
I agree with the sense of having a home. BUT THE POINTS!
Really, the big names need to combine some of their programs. Wouldn't it be great if you could convert your points into a down payment on one of those "vacation club" property ownership schemes?
JBlaine is offline  
Old Aug 30, 06, 10:03 am
  #20  
 
Join Date: Oct 2005
Location: A Browns fan (still?) working in PIT
Programs: US dirt (from CP), Marriott Rewards Gold, Hilton HHonors Diamond??, Avis First, Hertz #1 Club Gold
Posts: 346
While I agree that in most cases such an arrangement should be a taxable situation for the employee, consider the case of a colleague who purchased a condo in the city where he's been assigned for the past 6 years -- rather than pay $2100 a month for a corporate apartment, his company went along with his suggestion that a $50 per diem for housing costs was appropriate. He gets $50 every day of the month, and reimbursement comes through his normal expense reporting procedure. For all intents and purposes, his company is building equity for him, and he'll take 100% of that equity with minimal out-of-pocket expense whenever he decides to sell. Yes, I know, no points, but he lives in South Beach to begin with!
bankingconsultant is offline  

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