5 Tips for Finding a Good Contractor

March 1, 2021

Find a good contractor who gets the quality work on time is never an easy task. As you search for a contractor to work on your property, here are some tips and tactics you can leverage to filter out the bad apples and find the right fit for your project.

1. Get Referrals From People You Trust

You want to avoid picking contractors out of the blue. Even starting your search online can be a bit messy. The best approach is to ask for referrals.

When asking for referrals, tap people in your own network. This may include neighbors, friends, family, or coworkers. But also make sure you’re asking people whose opinions you trust. Anybody can give out a referral – do you trust the person giving it?

2. Do a Quick Phone Interview

You can save yourself (and the contractor) a lot of time by doing a quick phone interview before calling them out to give you an estimate in person.

Ask the following questions to understand their skills and experience:

  • Do they take on projects of your size?
  • Are they willing to provide financial references, from suppliers or banks?
  • Can they give you a list of previous clients?
  • How many other projects would they have going at the same time?
  • How long have they worked with their subcontractors?

This last question is especially important. You can hire a contractor you love, but will he actually be doing the work? There’s not anything wrong with subcontracting, but you want to know if this is the path he’ll be taking. And if so, are the subcontractors qualified and reliable?

3. Speak to Past Clients

The next step is to speak to past clients. The contractor should be able to provide some contacts or show you some of his work. If he’s unwilling to provide names, this is a sign that he might not have satisfied clients with good work.

4. Get Quotes

Generally speaking, it’s a smart idea to get at least three quotes from different contractors. This will help you get a feel for different approaches, prices, and styles. And don’t be surprised if their rates are all over the place. (If the rates are all pretty consistent, you can feel pretty good about the fact that you’re getting an honest “going rate.”)

5. Check Licenses

Make sure any contractor you work with is licensed and insured. They should be able to provide you with their numbers to show that they are who they say they are. A failure to provide documentation when asked is a good enough reason to work with someone else.

If you are looking to hire a Property Management company to manage your property then consider hiring ACCL Property Management. For free consultation, please email us at info@acclpropertymanagement.com or call us at 905-432-8961

5 Things to Consider Before Purchasing a Rental Property

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Expert Advise From Your Trusted Property Management Team

Get Your Property Rental Ready for Winter

December 7, 2022
It is important for landlords and property managers to take the required steps to ensure that their rental properties are ready for the winter months. You will want to be proactive with inspecting the plumbing, roof and landscape before the cold winter temperatures and winds set in. Doing this will guarantee that you will save money on damages that may occur if these areas are neglected.

Avoid These Property Management Blunders

May 15, 2021
If you want to earn as much as you can on your investment properties, it’s worthwhile to use the best property management team you can. If you encounter any of the mistakes below in the management of your portfolio, you may want to switch to a different management firm.

9 Maintenance Tips For Your Rental Properties

May 1, 2021
If you own rental properties in Oshawa or Durham Region, it’s crucial to maintain good relations with your tenants. One way to do this is by hiring a quality property management company to handle the upkeep. Are you looking for advice on how to maintain your rental properties in Durham? Look no further. Below are nine critical tips to protect your investment and keep your renters happy.

Tenant Screening: How Landlords Can Effectively Screen Tenants

April 15, 2021
Screening tenants is one of the most important tasks landlords are responsible for. Applications come in by the dozens for every apartment and it’s their job to sort through them, run the appropriate checks, hold interviews, and determine who will live in your properties. As a result of this constant work, most landlords have a clear sense of what red flags they need to look out for when reviewing applications, but it’s important to realize that not all problems are equal and that individuals with “red flags” on their records may not be bad tenants.

How to Build an Emergency Fund

April 1, 2021
1. Organize Your Bank Accounts

What is an Emergency Fund?

March 15, 2021
For the landlords and real estate investors, ROI and cash flow are everything. You’re constantly on the lookout for ways to make your rental properties more profitable, which means maximizing the upside and counteracting the downside so that it doesn’t come back to bite you. And even though there are no bulletproof methods of downside protection, there is one method that can significantly lessen your chances of experiencing a financial catastrophe. It’s called an emergency fund.

7 Techniques For Rent Collection

February 15, 2021
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4 Ways Landlords Waste Money

February 1, 2021
As a landlord, you’re in the game of generating cash on your cash. In other words, you’re in the ROI business. But are you really doing everything you can to set yourself up for maximum returns? This a question that you need to analyze through a critical lens. You might consider yourself a fairly savvy person when it comes to finances and investing. (After all, you’re wise enough to invest in an income producing property.) But it’s entirely possible that you’re bleeding money in areas where you could be doing better.

The 5 Advantages of Real Estate Investing

January 15, 2021
If you want to build wealth, prepare for retirement, or otherwise improve your financial situation, you’ll need to invest your money. Investing gives you the potential to earn money on your existing capital in a volume that outpaces inflation, ultimately helping you multiply your capital over time. One of the most common forms of investing is buying stocks and bonds—two types of reliable assets that are easy to buy, hold, and sell. However, stocks and bonds aren’t everything, and they may not be appropriate for all investors. Instead, you might consider real estate investing, which has several advantages over other forms of investment.