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Re Re Paying The Contractor What's Normal (
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Hold back, thats what I said - final 1/2 at completion of project ie 50% hold back. No need to direct your ire at being ripped off at me. Next time hire an attorney to review and approve the contract, I encourage my clients to do so. In regards to your back stop date: call backs lower profts on each job and negativly impact customer satisfaction thereby limiting long term growth by reducing referrals. To eliminate this situation I exceed the contract specifications and attend to other issues. For example "After I installed the new exhaust fan in your bathroom, I noticed that there were no GFIs (depending on the clients knowledge I might call them safety outlets and then explain) I installed one for you". $20 GFI + 10 minutes install time= MANY referals. After being ripped off by a contractor on a custom built home, I would require a hold back subject to final approval of the work, with a back stop date by which the open issues have to be reworked. Ie, no full payment until what is promised is what is delivered. On the flip side, if you as a contractor are so unsure of your work that you will not guarantee performance via hold back, then maybe you should not be in the business.. "srazor" wrote in message ... I structure payments about the same way as cm does. On jobs that are mostly labor (demo work) I usually take 1/2 half way through and 1/2 at end. I have had a couple clients ask to buy materials themselves to get credit card points, which I work the same as above. The only jobs I take full payment at the end are my commercial clients, who pay net thirty days, On a residential job "no pay till end of project" means no work with client. The only time I have had threaten client with a lien for non payment (full amount at end) was a minister and his wife, so much for trusting people. Bob, if the contractor does not make you feel comfortable enough to ask these questions then your intuition is telling you something We ask for 1/2 down on jobs over $1000.00 up to $3000.00, after that we usually take 1/3 at a time. We don't work for guys like Eric in Texas or people that try to negotiate a lower estimate. No offense Eric but if you don't trust me don't hire me. cm "Robert11" wrote in message . .. Hello: Getting a bit ahead of myself here, but in the Spring will be having all new siding and windows installed. What is "typical" as to how the contractor is paid ? e.g., I imagine it's reasonable to pay him the amount for the window costs (but not labor) early on so he can purchase the windows beforehand. Right ? And I guess some kind of additional deposit is also reasonable beforehand. If so, what approx % of the total price should this be ? How about the overall payments: Would splitting it into thirds, perhaps, be typical ? Such as 1/3 of the est. cost after 1/3 of the work is done, etc. ? Really don't know how to handle this; Don't want to be made a fool of, but also want to do what is considered normal for this. This would be a contractor who runs his own very small business. Is some kind of "bond" normal to protect us to make sure that the job is completed, etc.? Don't want to scare him off, but If so, what and how ? Any thoughts would be most appreciated. Thanks, Bob |
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