What Does Relocation Assistance Cover?
Relocation assistance is an awesome benefit to have on your side if you’re getting ready to move for work. Average move costs are only going to increase the further you go and the more stuff you have to move. So, it’s obvious that the bigger your move is, the more you’re going to want to lean on your relocation assistance package. But, what does relocation assistance cover exactly? Let’s take a look at some of the products and services you can typically use under company benefit policies.
Here’s What You Should Use Your Relocation Assistance On
There’s a wide variety of things your relocation assistance can be put toward. If you have a more generous benefit package, your company might be willing to cover the full cost of your move. However, some companies might have predetermined items that they’ll allow employees to use their benefits on. For example, they might only cover your movers, or your movers and your transportation to your new location. If you’re not sure, it’s good idea to talk to someone in HR to understand exactly what your employer offers.
Here’s some common costs of moving that relocation assistance can cover:
- Moving companies and moving insurance – This is the typical baseline for relocation assistance benefits. Most companies will cover the cost of a moving company to deliver your belongings to your new location, and they may even cover the moving insurance, too. Moving insurance is offered by the moving company to cover any damages to your things while they’re being transported. It’s a good thing to have if you’re traveling a long way and want to make sure everything arrives the way you packed it.
- Packing and unpacking services – Whether you hate packing or you’re short on time, this service is a great way to literally take most of the work off your plate. Packing and unpacking services are often offered by full service moving companies, but cleaning services sometimes offer it as well. With this service, you’ll have all your belongings packed for moving, and your house will be cleaned. Then when your things arrive at your new home, they’ll clean your new home, unpack everything, and put it away.
- Storage services – If the new home you’ll be moving into isn’t quite ready yet, storage services are one way you can keep your things nearby while you wait. Rather than trying to cram everything into a short-term apartment, storage services will keep your things safe until you’re ready to retrieve them.
- Early lease terminations – Moving for work is unpredictable, and unless you’re lucky, it likely won’t fall in line with when your lease is up. If you have to break your lease, your landlord might require you to pay to get out of it, continue to pay rent until they can find a new tenant, or both.
- Closing costs and realtor fees – Once your house sells you’ll still have some costs to pay before you can cut ties for good. Closing costs are a summation of the costs that you’ll have to pay at the end of your real estate transaction. These are usually more for buyers, but sometimes buyers might negotiate with the seller to cover the closing costs as part of the home sale. You’ll also need to think about realtor fees. If you worked with an agent to sell your home, they’ll need their percentage of your home sale before you can move on.
- House or apartment searches – When people move for work, it’s not uncommon to take a trip or two out to the new area to find a place to live. Your relocation assistance could be used to cover these travel costs, and it can also be used on services that will do the finding for you.
- Orientation trips – Similar to home and apartment searches, orientation trips are taken to familiarize yourself with your new area. You might want to scope out what area you want to live in, or if it’s a new country, familiarize yourself with the culture.
- Destination Services – This type of service is a summation of a few of the things we’ve already talked about. Destination Services are provided by relocation or mobility companies. You’ll work with one of their local consultants in the area you’re headed to go through your moving process. This is a great way to streamline your move, because they take care of the search process for you, can help you get to know the culture, fill out important documentation, and more.
- Intercultural training – If you’re moving to a new country, you might run into a bit of culture shock. It’s hard to feel like you fit in when everyone speaks a different language, celebrates different holidays, and even dresses and acts differently than you. Intercultural training can help you acclimate and understand your new area better by giving you everything you need to know about your new local culture.
- Temporary housing – When families move for one person’s work, often that person will move to the new area first, and the family will follow with the rest of their belongings shortly after. The individual who has to start their new role will live in temporary housing instead of purchasing a new home or renting an apartment until the rest of their family arrives. If your timeframe to move is too short, temporary housing might be a good solution to get to your new area and start working, and then worry about moving everything else later.
- Travel costs for trips home from long-term temporary housing – If you have to stay in temporary housing for a while, you’ll likely want to travel to your old home to be with your family while you wait for them to join you. Relocation assistance can be used to cover the cost of your travel, which can be especially handy if you have to travel far.
- Spouse or partner employment assistance – If your spouse or partner has to quit their job to move with you for work, many companies will provide assistance in helping them find a new job, or provide money to start their business in a new location.
- School-finding assistance for children – Relocation assistance can also be used toward services that can help you find the best school districts or schools for children in your family. This is also a factor that can often be covered by Destination Services.
- Elderly care search assistance – If you have a elderly family member who will need to find a new place to receive care after your move, relocation benefits can assist in locating a new facility or home care health aid.
- Miscellaneous expenses – These are things that are easy to forget, like getting a new driver’s license or updating your car registration. Relocation assistance can often cover the majority of these, and services like Destination Services can help ensure that you don’t forget them.
No matter how far you’re moving, there’s always a lot to think about. Relocation benefits can help take away some of the stress of paying for it, but it doesn’t do much for how you’re going to get it all done. That’s where Dwellworks Direct can help. Our local experts can help you manage your relocation and make sure you get everything done before you have to be at work for your first day. Let us take the hard work off your plate. Learn more about how our services can make your move easier here.
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