IRP Information
UPDATED APRIL 19th, 2018 – As a military Realtor in Ottawa it’s important to stay current with anything relating to relocations and Brookfield policies. Here is a PDF with some great information on the directives that were just announced. The biggest change, in my opinion, is the home equity assistance benefit. This is being doubled from 15k to 30k. Huge relief for many families as some market conditions are changing in various cities. It really adds some extra protection on any purchases made on HHT’s.
Here is the full Q & A: HHT – Q and A
If you get your posting message to Ottawa there is lots of information you need to know. The best source of information to know what’s covered or not is the Canadian Forces Integrated Relocation program directive. Brookfield manages the CF relocation directive. For your convenience, I have included a link to this below.
As an Ottawa Realtor I specialize in military moves. I am an approved Realtor with Brookfield for buying and selling in the national capital region. Of course everyone I deal with is also an approved vendor.
Your relocation package will consist of three components Core, Custom and Personalized.
- The Core component covers items that are considered essential for your move such as cost to sell your existing property or dispose of your rental unit, cost of your House Hunting Trip (HHT) etc.
- The Custom component cover items that enhance your move such as marketing incentives on your existing property to help it sell, bridge financing and costs associated with your extended family.
- The last component is non essential but attributable to your move such as a Movement Grant, Posting Allowances and others.
Below is a description of the components, some examples of what each covers, and what happens if they are not used.
Core Component
Overview
Core benefits are essential to a move. All core benefits are funded directly by the Department. A member is not required to use these benefits, however any unused benefits cannot be exchanged or assigned any monetary value to pay for any other benefits or expenses.
Examples of items covered
- Disposal of your rental unit. Pay for getting out of lease
- Pay for costs to sell your residence,all real estate commissions and legal fees etc,mortgage breaking penalties, home equity assistance
- Costs associated with your house hunting trip such as travel and hotels
- Cost to purchase new house including legal fees, inspections
- Cost to move such as moving expenses, travel etc.
- Much more. Ask IRP rep for more details.
What happens if not used
If you don’t use you forfeit them.
Custom Component
Overview
Custom benefits enhance a move. Custom funding is based on the factors of type of accommodation, distance traveled and family size. The custom funding formula is used by the member to pay for these custom benefits only and cannot be used for any other type of benefit.
Examples of items covered
- Building Inspection on your existing property
- Marketing Incentives such as decorating allowances, early closing incentives
- Cost to have someone take care of your children on HHT
- Dependant and Extended Family Travel
- Bridge Financing
- Interest on $25,000 Home Relocation Loan
- Miscellaneous Expenses for Extended Family such as transportation, lodgings, meals and miscellaneous expenses
- Car rental when primary vehicle shipped
- Shipment of – Second Vehicle, Pets, Boats, Antiques, Artwork, RV’s, Trailers
- Miscellaneous Shipping Expenses
- Spousal Employment Search expenses
What happens if not used
Choose it and use it or lose it
Personalized Component
Overview
Personalized benefits are non-essential expenses but are attributable to a move It is within the member’s discretion to use personalized benefits. The personalized funding formula is available for use in three ways:
- it can pay for any personalized benefits;
- it can pay for additional custom benefits beyond what can be covered by the custom-funding formula; and
- remaining funds can be cashed out and paid directly to the member.
Examples of items covered
- Movement Grant: Members receive a non-accountable grant in an amount of $650. This allowance is intended to offset various losses or expenses incurred but not specifically provided for because of the move. Members must sign a statement verifying that these expenses were incurred. Receipts are not required.
- Posting Allowance:Members who elect not to sell their home receive an incentive equal to 80% of the pre-negotiated corporate real estate commission rate based on the appraised value of the home. It shall not exceed $12,000. Members can generate Personalized Funding as a result of savings on HHT.These savings can occur in one of two ways:
- Shortened HHT
- CF Service Air
What happens if not used
Remaining funds can be cashed out and paid directly to the member.