Things to Look for in Hiring a Contractor

As a property owner or as a real estate investor, you are probably concerned about the quality of contractors who you hire to perform regular maintenance or to renovate a property.

Stephen Green
7:05 PM, Apr 19, 2022

As a property owner or as a real estate investor, you are probably concerned about the quality of contractors who you hire to perform regular maintenance or to renovate a property. The cost of the repairs as well as the insurance implications of the work they do makes the choice an important one. There are some guidelines you can use to know that things to look for in hiring a contractor that will provide you with cost efficiency and satisfaction that you have made a reliable choice.

Professional organizations exist for most trades and these provide ethical guidelines, to which all members subscribe. Ensuring you choose a contractor who is a member of the organization ensures that you can trust their attitude to servicing your property and have a complaint process in place should something go wrong.

Enquire whether the contractor has his own insurance and the relevant licensing qualifications. There are tradesmen who do not hold relevant qualifications advertising their work, and this work is not covered by most home insurance policies and provides no protection if the work is less than acceptable quality.

Contractors who are successful businesses usually have positive references from satisfied customers. Selecting a contractor who is referred to you, or can supply references provides a degree of assurance that the contractor is able to provide the service they are offering and to an excellent standard. Things to look for in hiring a contractor with references include the time the contractor has taken to complete the work, the products they use to repair or fix the property and warranty on the service and follow up service they provide if required.

Don?t select a contractor without comparing the services they offer with other contractors providing similar services. Compare costs estimates provided by each contractor and do not be afraid of having a second opinion if the extent of the work appears excessive. Take your time in choosing the contractor you feel you can trust and depend on to do the work properly.

Finally, consider that the contractor will be entering your tenant?s home and it is essential you trust your judgment on their character and ability to complete the work safely. If necessary, consider a background check on the team you are planning to choose. This is particularly important if the contractor appears to be pressuring you for an upfront deposit or payment in full of the work before the work has commenced.

Perhaps this list of things to look for in hiring a contractor appears un necessary and time consuming, While it may be tempting in today?s economic climate to choose a lower cost contracting service, it may end up not being the best long term financial or business investment.