Did you know that the global construction industry was worth $17 140 billion in 2017?
Do you have an office building project but aren’t sure who to hire? Not to worry! We’ll cover the steps you’ll go through to hire commercial remodeling contractors.
Want to learn more? Keep reading to find out!
Commercial Remodeling Contractors: A Guide
You’re going to want to find the best-suited contractor for your job. You’ll contact contractors, receive estimates, and complete contracts. Let’s look at the steps on how to find a contractor for remodeling.
Start with a List of Contractors
Make a list of up to five contractors you’re interested in hiring and narrow it down to find the best fit.
When making this list, ask local business owners for references. They may know a quality contractor that you could get in touch with. It’s a bonus when you receive a positive recommendation from a business owner you know and trust.
Another way is to check with your local building inspector. Inspectors know which contractors always meet code requirements and those who don’t.
This is important information to know when hiring. Call your courthouse and speak to someone in the permit department. Ask how long the company has been in business.
You’re looking for a well-established contractor, not an overnight success. Many contractors claim years of experience. Ask them to provide proof of business length when you speak with them.
Schedule a Meeting with the Contractors
Make sure you meet with each contractor on your list. Do a walk-through of your project with them. You’ll have a chance to ask questions.
Notice how well they communicate. Do you feel comfortable chatting with the contractor? If not, you could have some problems in the future. Work with someone who is going to notify you of any changes and will keep you in the loop.
If a contractor has a lot of experience, it will show as you do a walk-through. You want a contractor who has a wealth of knowledge and experience. They shouldn’t have a problem explaining how they’ll address your needs.
Find out if they have liability insurance and workman’s compensation. Most contractors should have these two things. It doesn’t hurt to ask them during your meeting.
Ask for an Itemized Estimate
A detailed estimate is your resource for figuring out how much money and time your project is going to take. By asking each contractor on your list to provide this, you’ll have an easier time deciding on who to choose.
Ask the contractors for a profit margin, timeline, material cost, and payment terms. Also, ask what the labor cost is.
With these estimates, you’ll have a good idea of what to expect. If you decide to move forward with parts of your projects, but not everything, you’ll know what it will cost.
Consider finding out what the costs are for the items. Some contractors mark up prices. Find out from the suppliers how much the materials cost without the mark-up.
This helps you see if the contractor’s estimate is reasonable. Be wary of low prices.
Notice how long the contractor takes to get you the estimate. If they’re delivering it on Wednesday, but you don’t get it until the following week, this might reflect their work.
Choosing Your Contractor
Before deciding, consider the contractor with the best rating and reputation. Make sure you’ve called former clients. Find out if the job finished on-budget and on time. Were they were happy with how the contractor communicated?
Another way to decide is by visiting the contractor’s current job site. This gives you further insight into how they run their operation and what the workers are like.
Going with the cheaper option might not be the right choice. If you find a contractor that you feel comfortable with or is better qualified, choose them.
You could save money because they won’t select lower quality materials or cut corners.
If you find a contractor who has wonderful reviews, you trust them, and it’s a balanced cost, choose them. This guide focuses on commercial construction companies.
Create a Detailed Contract
The final step is creating a contract for your contractor. This is as important as the work you went through in the beginning. Your contract has legal implications so make sure you know what you’re signing up for.
Include a payment schedule in your contract. You’ll pay 10% at the beginning and schedule payments throughout the job. Then have a final payment once the job’s completed.
Make sure you have proof of liability insurance and worker’s compensation payment.
Include a start date and a general timeline of the project. Also, have a projected completion date. Write down what products and materials you’ll need.
Keep Copies of Receipts
Contractors need a deposit for materials before any job begins. Make sure you get copies of receipts for things your money is going towards.
An insurance company may need certain expenses documented to support a claim. Even if your insurance company isn’t involved, keeping track of where your money’s spent is a good idea.
Check out our guide on tracking business expenses.
Want to Learn More?
We hope you found this article on commercial remodeling contractors insightful. Take these tips with you for your next project. Take your time interviewing and chatting with contractors. Research them and find the one for your next project.
Want to learn more? Check out what to consider before buying commercial property for your business.