Florida has consistently ranked #3 in the U.S. for top States people move to and the Tampa Bay area is one of the fastest growing cities in Florida. Companies like Bristol -Myers Squibb, who will be hiring 600 employees here in Tampa, and over 25 other companies that have headquarters in Tampa, are focused on relocating the right talent for the job.
Getting hired for a new job or being transferred to a new location is often very exciting; however, relocation can be expensive. In negotiating your contract, take a moment and ask what relocation costs they cover. Let’s talk about domestic relocation, within the continental United States, and focus on what’s important to know about your upcoming move.
2012 Migration Patterns by Atlas Van Lines
Typically, most upper management positions come with a relocation package; however, they can vary from company to company, or position to position. Some employers give you a relocation allowance or a lump sum of money to offset your moving costs. Often times, they may have a preferred mover with discounted pricing. Other times, they may suggest you go out and get three (3) estimates to submit for their approval.
If you are planning on moving to Tampa, here are a few suggestions you may want to go over concerning your relocation costs:
• Consider getting full-value replacement insurance for your move.
• Ask your employer if they will be covering packing/unpacking.
• Do you have automobiles to ship and will they cover the transportation costs?
• If you have pets to relocate, will they cover their relocation costs?
• If you have not found a new residence, will they cover storage costs for 30 days, 60 days?
• Third Party Charges, coverage for servicing Grandfather clock, pool table, appliances, crating?
• Travel expenses such as lodging, food, airline tickets, car rental while house- hunting?
• Maid Service – Unpacking and putting everything away?
• Move-in/Move-Out Cleaning Service?
If you are given a lump sum to move, how can you maximize your moving allowance? Years ago, people could save a substantial amount of money by renting a truck and moving themselves. In today’s market, compare the costs of a do-it-yourself move versus a professional move. You will be surprised how little you’ll save. You can save some money by packing, however, those boxes are not covered under the van lines insurance for any breakage.
If your employer does not cover the costs of your relocation to Tampa Bay, you can visit the IRS website, http://www.irs.gov/publications/p521/index.html. This publication will outline what expenses are deductible off your taxes, when relocating for a new job.