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Contractor Hiring 101: Tips, Tricks, and Red Flags to Avoid

Young couple talking to construction worker about housing design plans at construction siteHiring competent, trustworthy contractors for your property improvements and repairs can be one of the most difficult aspects of investing in Summerfield single-family rental properties. Few investors have the time or resources to hire a contractor whose work is merely substandard. But in actuality, there are people out there who will attempt to deceive you out of your money and then leave you. It is, fortunately, possible to identify the trustworthy, fairly priced contractors you require for every work by being aware of a few basic tips, methods, and things to avoid.

Ask for Referrals

In order to complete the work, you as a property owner need contractors you can trust. It is a good notion to search for professionals in your industry that you will want to hire repeatedly. This will help you save a ton of time and money. But you need to begin with research in order to select contractors with whom you can build lasting business relationships. Inquiring about recommendations from reliable property managers, real estate brokers, and other property owners is a fantastic place to start. You may look for prospective contractors online as well. Numerous websites make an effort to aid in the screening of contractors using client reviews or even expert advice.

Ask for References

Asking for references is yet another suggestion for choosing an excellent contractor (or two). A good contractor will be pleased to give you the names of one or more former customers who can comment on their experience. Once you have a list of potential contractors, be sure to inquire about their dependability, cost, responsiveness, and adaptability. Has the deal agreed upon been honored? How well did they address your concerns and implement your changes? If you have doubts about the answers you receive, you should continue searching.

Research Your Top Picks

Before deciding on a candidate, it is essential to examine their credentials and online reviews thoroughly. Look up the name of your contractor in local court records and with your state’s licensing board. Employing unlicensed contractors could expose you to significant liability in relation to your rental property. A huge number of grievances or lawsuits is a very dangerous indicator. The same applies if you can’t get the contractor to pick up the phone or return your messages. While a few missed phone calls are not necessarily indicative of trouble, if more than twenty-four hours pass without a response, you should move on.

During the bidding procedure, there are additional red flags to watch out for. For instance, keep an eye out for negative internet reviews or suspiciously cheap costs, and avoid the business if you discover them. Additionally, it’s wise to stay away from any contractor who requests a sizable upfront deposit. Concern should be expressed if the percentage exceeds 15%. The same holds true if the contractor states that they will require an unlimited amount of time and materials, or if they make extravagant claims about how much they can accomplish within a certain time frame. Not only do you need someone who can work efficiently, but you must also discover someone who is consistently realistic regarding project costs and completion times.

Focus on Quality

Once you have evaluated several potential contractors, request bids from them. Your understanding of the cost of the work and the methodology used by each contractor will be based on the quote. Don’t accept the lowest bid, particularly if it’s substantially lower than the others. Extremely low proposals may indicate that the contractor intends to add additional fees later. This may also indicate that the contractor has no intention of obtaining the necessary work permits. At the same time, it’s crucial to avoid paying too much for your contractor’s services. In order to be the most realistic, aim for the medium bid.

It may take a little while to start looking for the best contractors for your investment property’s repairs and improvements. But once you know who you can trust to do the work, that part of your property management strategy can turn into a quick and easy procedure. You can save yourself time by contacting Real Property Management Paradise, who has established contacts throughout Summerfield. Call us at 352-565-4303 for more information today.

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