We have found that the cheapest quote is not necessarily the best quote at all.
When appointing a contractor to do work on your investment property we take into consideration a host of factors determining contractor’s suitability to do the work. Other than price the following must also be taken into consideration:
- Is the contractor licensed to complete work for that trade?
- Is the contractor insured? If the contractor is not insured you carry the risk.
- Can the contractor provide references for similar work that he has completed?
- On work such as refurbishments, have you been given a start and completion timetable?
- Is the contractor going to complete the work himself, sub contact the job or oversee other employees to complete the work?
- Have you confirmed the materials used and any warranty periods applicable?
The above may seem a little over the top, but all too often we have seen investors appoint a contractor on price alone and ignore the host of variables to be taken into consideration when appointing a contractor most suitably qualified to do the work.
We always suggest to investors to take the time and care in appointing a contractor as you would appointing a contractor in your own home.
Although we may present a quote to you for work that may seem a little high in comparison to some, the above must be taken into account in order to protect your interests, the dollars invested and your property.
