Whether you’re making some renovations during a turnover or getting your new investment property into rent-ready condition, most real estate investors and landlords will need a contractor at some point while renting out a home.
Where will you find a contractor you can trust?
As you begin getting referrals from people who have contractors to recommend and you start reaching out to different individuals and companies, always start by checking licenses, qualifications, and previous work they’ve completed that’s similar to the projects you have in mind.
Here are some of the most important questions you can ask a potential contractor before you hire them.
Questions About Business Practices
Before you get into the particulars of your project and your property, you’ll want to know how the contractor you may hire handles their business operations. Ask these questions when you meet to interview contractors and get to know them better:
- How many years have you been in your field?
- How do you screen your subcontractors? Will they be the same every day or are different people brought in throughout the project?
- Do you offer warranties?
- What kind of insurance do you carry?
- How do you dispose of garbage and waste?
- What are your general working hours?
- How do you handle it when work falls behind?
The reason for asking these questions is to get a general sense of what it will be like to have your contractor and their team at the property – whether they’re on site every day or a few days a week. You want to know how they handle permits, disputes, and disruptions.
Questions About Your Orlando Property Needs
Next, you’ll need to ask some questions about how they will handle the project you need them to complete. Some of these questions should include:
- Have you done this type of work before? Don’t be afraid to ask for references or a portfolio of examples.
- Will you itemize my quote? This can help you understand how much each aspect of the job will cost. You can also ask if the quote is an estimate or a fixed price.
- What is the realistic timeline for this project? You may have an idea of when you’d like the work to be complete, but that will depend on the contractor’s current workload and ability to coordinate subcontractors. You can also ask how many other projects they’re currently working on.
- Can you apply for and obtain the appropriate permits? You’ll often need city and building permits to do the work you want at your rental property. The process can be complex, and having a contractor who is familiar with how to do it will be beneficial.
These questions will allow you to get to know the contractors you’re interviewing. You’ll have a way to understand how they do business and what they can do for you in terms of the work you need at your rental property. Always measure the scope of work against the cost of the project as well, and make sure you’re getting the value you expect.
If you’d like some help locating the right contractors for your Orlando investment property, contact us at Park Avenue Property Management. We lease, manage, and maintain residential rental homes throughout central Florida, including Orlando, Lake Buena Vista, Kissimmee, Celebration, Maitland, Altamonte Springs, West Palm Beach, and Tampa Bay. We work with some of the best vendors and contractors in the area, and we can answer any questions you may have.