Hiring qualified, dependable contractors for property improvements and repairs can be one of the most onerous facets of Anacortes single-family rental properties investment. Few investors are willing to spend time or money on a contractor that delivers low-quality work. But the truth is that there are con artists and others who will attempt to defraud you of your money and 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. Finding industry experts you want to work for you time and time again is a fantastic idea. This will help you save a ton of time and money. However, you need to first carry out research to locate contractors that you can create a long-term business relationship with. Searching for references from credible real estate agents, Anacortes property managers, and some other property owners is an excellent starting point. Online research is another option for finding a contractor. Some sites make an effort to assist in screening contractors by using client feedback or industry recommendations.
Ask for References
Requesting references is a good suggestion for selecting an excellent contractor (or two). Top-notch contractors will be delighted to provide you with the names of one or more former customers who may share their insights. Ask specific questions about the contractor’s dependability, affordability, response, and flexibility once you have their name. Did they adhere to the agreed upon cost? How did they take your issues and changes? It is in your best interest to keep looking if you have concerns about the responses you receive.
Research Your Top Picks
It’s essential to thoroughly research a candidate’s credentials and internet reviews before deciding to hire them. With the name of your contractor, contact the state licensing board and look it up in the local court records. Using unlicensed contractors is not recommended since you risk taking significant legal responsibility for your rental property. Many complaints or lawsuits are negative indicators. The same applies if you have problems getting the contractor to take your call or attend to your messages. Although a few missed calls might not necessarily imply danger, if more than 24 hours go by without a response, move on.
During the bidding process, there are additional caution signs to watch out for. For instance, check for negative internet reviews or suspiciously cheap costs, and avoid them. A contractor who requests a large advance deposit should also be avoided. Anything above 15% should raise red flags. The same holds true if the contractor indicates that they will require limitless resources (time and supplies) or makes sweeping claims about how much they can accomplish in a short amount of time. While efficiency is important, it’s as important to hire someone who continually keeps project expenses and completion dates in perspective.
Focus on Quality
After vetting several possible contractors, seek bids from them. The quote will give you an idea of the cost of the job as well as the methodology used by each contractor to determine their rates. Avoid choosing the lowest bid, even if it is very tempting and far less than the others. Extremely low bids can indicate that the contractor is trying to get your business by offering a low price only to tack on extra fees later. These can also suggest that the contractor has no intention of obtaining the necessary work permits. The labor of your contractor should not be overpaid for, however. To be the most realistic, aim for the medium bid.
It can take some effort at first to find the perfect contractors for the modifications and repairs you need to make to your investment property. Yet, once you are aware of whom you can count on to complete the work, that part of your property management strategy may become a quick and easy procedure. Notifying Real Property Management Teyata can help you save time because they have connections all around Anacortes. Give us a call at 360-856-1010 to learn more right away.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
