Answered by Nicole La Capria
September 25, 2013
Hello, and thank you for visiting Movers.com!
A relocation package is monetary compensation or assistance finding a home provided by your employer when you relocate for a job.
Some companies may pay for your rent temporarily. If you are only being transfered for a short period of time, or if you need lodgings while you search for a permenant residence, your rent could be compensated by your employer.
The extent of what your RELO package offers will depend on your job and position, but some common other benefits include:
- Moving costs
- All-expense paid trip to look for housing
- Paid closing costs
- Assistance selling your home
Negotiating Your RELO Package
Before agreeing to a job transfer, be sure to do your research and negotiate the terms of your relocation package if you do not believe they are adequate.
- Will specific expenses be paid in full, or will you receive one lump sum?
- Will you be reimbursed later for incurred costs, or will the company pay them up front? Even if your RELO package covers everything you need, if you don't have the means to pay it initially, reimbursement may not be a suitable option for you.
- What is the cost of living in your new locale? If you are moving to a location with a much greater average cost for rent, real estate, groceries, utilities, and entertainment, you may realize the opportunity isn't as valuable as you thought.
- Be sure to get it in writing! An employer can verbally promise you benefits that you will never see unless they are documented.
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