What is a GBO (Guaranteed Buyout Option) Home Sale?
With this program, two independent, fee-paid WERC appraisals are ordered, in addition to inspections on the property, title work, and the broker market analyses. The average of the appraisals is submitted to the employee as a “guaranteed offer”. If, no buyer has been found – typically after a specific marketing period established by policy (typically 60-120 days) the employee is free to accept the company’s guaranteed offer for the relocation consultant can acquire the property from the employee and submit for calculation of final equity.
What is an Amended Value (AV) Home Sale? This is part of the GBO home sale program. Once the employee obtains a bona fide outside offer during the established marketing period as per policy and/or prior to accepting the guaranteed buy-out offer an amended sale comes into play. The guaranteed offer is “amended” to the higher outside offer.
Does Interlink provide relocation expense management and tax assistance to its clients?
Yes. Interlink reimburses and reports on all employee relocations. We provide extensive audit, tracking, and tax reporting services for domestic and international relocations/assignments.
Who handles travel?
Interlink’s travel partner can make reservations for hotels, airfares, and auto rentals, consolidating all reservations onto one folio which makes it easy to submit for reimbursements. Employees are also able to use their employer’s travel partners (using their own credit card) or arrange for travel on their own.
What happens if an employee’s household goods are damaged?
InterLink’s household goods partnerships are top-notch and we have very few claims. When there are claims, the relocation consultant works closely with the employee and the van line’s claim department to reach a fair and prompt resolution.
How often should we review our policy?
We believe that relocation policies should be at least once a year – more if certain circumstances dictate (such as a group move, company merger, etc.). Our close tracking of all exceptions also helps determine if and when a policy benefit should be reevaluated.
Does InterLink help clients write policies?
Yes, we have written most of our clients’ policies, from revisions to entirely new policies.
Does InterLink have an app for expenses?
Yes, our app allows employees to take photos of receipts and submit expenses from their mobile device or via a web portal called GlobalLink.
What is gross-up?
Certain relocation expenses are considered to be taxable income to the employee. Gross-up is when the employer pays the tax impact directly to the state and federal governments on the employee’s behalf. By doing so, the employer is offsetting the tax impact of the relocation benefits paid to them or on their behalf.
Does Interlink provide assistance with developing cost estimates and projections for their clients?
Yes. We assist our clients with developing cost estimates and projections based on the relocation policy guidelines and services offered by these companies and business forecasts. These are useful to our clients in setting their annual budgets and future planning.
Does Interlink offer temporary living and rental assistance to their clients?
Yes. Interlink offers temporary living assistance through one of its partners, Rental Relocation Inc. (RRI). RRI provides clients exclusive corporate apartments, private rentals, hotels as well as university-style housing backed by best-in-class technology. Whether you are seeking temporary or long-term housing for employees, summer interns, extended stay business travelers, project teams, or solutions for the government and military housing.
Is Tenancy Management a service you provide to your clients?
Interlink provides extensive tenancy management services to domestic and international employees. This includes finding suitable housing, help with expense management and budget management, deposit management, security deposits, ongoing rent payments & reimbursement of utility payments, lease negotiations, and management.