When your employer asks you to pack up your stuff and relocate to a new place, your first thought might be how this will affect you financially. The good news is that it will probably be a positive change in your life financially, and you should realize too that you can negotiate with your employer about the relocation package you are offered. Here are some tips to help you know how to handle these negotiations so that you can get the best deal when relocating for work.
The first thing your employer may offer is to pay for your moving costs. Your employer might offer you a lump-sum amount for this, or your employer might state that the company will pay for the total costs of the move. According to U.S. News, over 50% of companies generally pay for the costs of packing, moving, and unpacking all items employees own, but there might be exclusions. You could always negotiate over these exclusions and ask for compensation for moving:
If you have any other items that are not included in the moving costs, ask your employer if you can get extra money to move these items. The worst that can happen is that your boss will say no to your offer, but keep in mind that there is a good chance your employer will agree to your requests.
In addition to paying for your moving expenses, your company might also reimburse you for costs related to housing. The types of costs included in this will typically depend on whether you currently rent or own the house you live in, and here is what you can ask for if it is not offered:
If you currently rent a house or apartment, there are several different expenses you may get out of paying if you relocate, but the main one is a broken lease fee. If you have to break your lease in order to move, your company might pay this fee for you.
On the other hand, if you currently own your home, your employer might reimburse you for several different expenses. The main one is for a loss on sale. If you are rushed into selling your house and have to accept a low offer on it, your employer might agree to make up the difference for you by paying you this amount.
Here are a few other expenses that you may also want to consider asking for as you negotiate your relocation package:
All of these costs can add up and can set you back financially if you have to pay for them out of your own pocket.
As you are negotiating with your employer over your relocation, it's always better to know what to ask for. Keep in mind too, that you might have some say in which moving company you hire to complete your move, and you may want to research several companies to find the best corporate moving service around.
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