Don’t get fooled by contractors
Nowadays, many people are scarred by stories about contractors and this is way they are afraid to get into real estate investing. If you are afraid to hire a contractor you should know that your business will certainly need one into the future. So, you will need to choose well for your business and remember that stories are true sometimes but sometimes they aren’t.
So, you can find tradesman who will not finish their job, or they will walk off the job with the money, but these are just thieves that you can simply avoid. The first step into this process is to ask for the references. So, don’t be hurry with your business and money and make sure that you take your time before hiring someone. If you consider that something is wrong, listen to your gut and move on.
After you finished this phase, you are ready to sign a contractor agreement. You will need to write into the contract all rules that should be followed into the partnership. Make sure that the paper is signed and then start the job. As a key clause to your contract, you will need to introduce the scope of work and a draw schedule.
Also, a very important thing that should be avoided is an upfront amount of money. If something is changing into your project, you will need to make sure that the changes are also written into a new contract. Also, you will need to introduce a penalty clause.
The damage clause is a must too if you want your house not to be devastated by careless workers. The final clauses should be the clean up clause and personal information of the contractor. So, if you want a serious business you should also create serious contracts to protect you from thieves.
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