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Hiring Contractors: Tips, Tricks, and What to Avoid

Two property managers hiring contractors and shaking hands The procurement of experienced, reliable contractors for your property renovations and repairs might be one of the most difficult aspects of investing in Ooltewah single-family rental properties. Few investors have the time or finances to waste on a subcontractor who cannot deliver high-quality work. But in actuality, there are people out there who will try to con you out of your money and then abandon you. Fortunately, it is possible to discover the reliable, reasonably-priced contractors you seek for every project if you know a few simple tips and methods — and what to avoid.

Ask for Referrals

For the job to be finished, you as a property owner need contractors you can trust. It’s a smart idea to look for pros in the field you want to work for you regularly. By doing this, you can save a bunch of time and money. To discover contractors with whom you can form long-term business partnerships, you must first conduct research. Ask for referrals from reputable real estate agents, Ooltewah property managers, and certain other property owners as a good starting point. You may look for prospective contractors online as well. Lots of sites try their best to help in the screening of contractors by using customer reviews or expert suggestions.

Ask for References

Asking for references is another technique for choosing a fantastic contractor (or two). A contractor of high caliber will gladly give you the names of one or more former customers who can testify to their experience. Once you have the contractor’s name, ask detailed questions about their reliability, price, availability, and flexibility. Did they adhere to the agreed upon cost? How did they manage the changes and your doubts? It is in your best interests to keep searching if you have qualms about the answers you receive.

Research Your Top Picks

Before deciding on a candidate, it is crucial to verify their credentials and web reputation. Look up the name of your contractor in local court records and with your state’s licensing board. It is not advisable to engage unlicensed contractors because doing so could put your rental property in serious trouble. It’s not good when there are plenty of complaints or litigation. The same applies if you have problems getting the contractor to take your call or attend to your messages. While a few unanswered phone calls are not always indicative of problems, if more than 24 hours pass without an answer, you should move on.

Several other warning signals should be observed during the bidding process. For instance, check for negative internet reviews or suspiciously cheap costs, and avoid them. In addition, it is recommended that you refrain from hiring any contractor who requests a high price upfront. Concern should be made if the number surpasses 15%. The same stands true if the contractor states that they will require an endless amount of time and supplies, or if they make bold claims about how much they can perform within a certain time frame. It’s important to select someone who is regularly realistic about project expenses and completion dates even though you do need someone who can work efficiently.

Focus on Quality

After vetting several possible contractors, seek bids from them. The bid will outline how each contractor determines their prices and give you an idea of what you may anticipate to pay for the work. Avoid choosing the lowest bid, even if it is very tempting and far less than the others. Very low bids could indicate that the contractor is trying to entice you with a low price only to tack on extra costs later. These can also be an indication that the contractor won’t be getting the necessary work licenses. Likewise, it is essential not to overpay for your contractor’s labor. Target a middle bid, which will generally be the most reasonable.

Initially, it can be time-consuming to identify the most qualified contractors for your investment property’s renovations and repairs. But once you know whom you can trust to do the work, that part of your property management strategy can turn into a simple and swift process. You can save time by calling Real Property Management Your Home, which has developed relationships throughout Ooltewah. Contact us at 423-704-9944 right now for additional details.

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