The #1 Concern of Assignees in Italy
I recently carried out a survey, and I discovered that the #1 concern among assignees moving to Italy as part of an intra-company transfer was not having to live a lifestyle that was lower than the one, they were presently living. While a very small percentage of assignees said they would be happy to have at least the same level of lifestyle they had in their home country, most, however, answered that they were eager to see their lifestyle improve while on assignment in Italy.
From having worked on thousands of relocations into Italy, both corporate and individual moves, there are five main reasons, in my opinion, why the lifestyle of someone moving to Italy could drop instead of improving.
- Unrealistic Budgets: €900 per month for a one-bedroom rental in a major market like Rome or Milan simply won’t go far, especially if the person in question wants to be in one of the city’s most sought-after neighborhoods. In such a case, I would advise a budget of at least €1.300 in order to be in a neighborhood where most expats would like to live.
- Corporate Contract: Many landlords in Italy prefer to rent to individuals through a person-to-person contract because they pay a lot less tax when they rent this way. When they rent to a company through a corporate contract, they pay a lot more tax, which means that these properties may never reach the market for an employee of a multinational. In some cases, if the landlord receives an increase in rent, they may be willing to rent to a company to offset the higher taxes they must pay; however, this cannot be guaranteed.
- Utilities: In some cases, the budget assigned for the payment of utilities may also be too low, which means that the assignee may have to pay a substantial amount out of their own pocket, which normally does not please the assignee. I have seen cases where this caused the assignee to go back home earlier.
- Extras: Parking in major markets like Rome and Milan can be harder to find than a hen’s teeth, which means that an assignee with a car may have to rent a private parking place in a garage located nearby — in some cases, depending on supply vs. demand, this can be well over €200 per month. Many assignees do not want to pay this out of their own pockets.
- Unset Expectations: While it won’t be possible to meet the expectations of each person, it really does help if expectations about Italy are set in advance, especially regarding housing, lifestyle, and anything else that is important to the person or family relocating to Italy.
Go Local! I regularly speak with HR and individuals so that I can keep them up-to-date regarding any major changes in the market, such as increases or decreases in rents, changes in lease contracts, immigration procedures, and anything else that affects life in Italy.
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