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Real Estate News and Advice |
February 10, 2010 |
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 Relocating: What To Expect From Your Company
by Blanche Evans
What can a relocating employee expect in terms of assistance when he or she is asked to move to a new city? According to the Employee Relocation Council, standard relocation policy elements are on the increase and usually include the following elements: 1. Shipping of household goods This generally includes shipping, packing, unpacking and storage. 2. Temporary living The majority of coverage is offered for the new location rather than the old. 3. Househunting trips Over the years, it has become more common for employers to offer multiple trips. Today, 46 percent of companies cover one trip and 49 percent cover multiple trips. Most employers offering multiple trips cover two househunting trips. (*1997) 4. Purchase closing costs Most companies will reimburse all "normal, required" costs associated with the purchase of home at the destination location, but generally restrict coverage to transferees that were homeowners at the old location and/or have attained certain job levels. 5. Miscellaneous expense allowance With no requirement to itemize or document expenses, the allowance is intended to cover incidental expenses related to the move, i.e., auto registration, appliance hook-ups, etc. It is usually equal to one month's salary. 6. Real estate sales assistance Nearly all companies offer such assistance, under one of the following programs: The third party program is the primary form of assistance and is used by 70 percent of companies, followed by the direct reimbursement program and in-house purchase programs, each used by about 10 percent of companies. About 50% of ERC member companies provide career assistance to transfering spouses, and another 45% provide assistance to unmarried life partners of the spouse. Two-thirds offer this assistance through a formal policy, while the remainder offer it on an employee request basis. Most companies with formal spouse employment assistance policies make it available to the spouses of all current employees, regardless of the transferee's level within the company. A 1997 ERC survey of its members produced the following breakdown of current employee relocation costs: Among current employees, the type of assistance available in 1997 averaged as follows:
For more information, please contact the The Employee Relocation Center. Published: December 1, 1998 Use of this article without permission is a violation of federal copyright laws. 
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Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68.
