Martin and Lewis. Simon and Garfunkel. Jordan and Pippen. While each half of these duos has been an independent success, there’s no denying two is often better than one. The same can be said of the relationship between commercial general contractor and subcontractor. We GCs may think we’re the star, but we all know the […]
I don’t have a crystal ball, nor am I a betting man, but based on the commercial construction projects Englewood Construction has heard are in the pipeline for 2010 across the country, as well as my 30+ years of combined experience in the design build and commercial construction industry, here’s what I think will be […]
Have you seen the 2009 Green Building Survey? If not, take a look at the recent issue of National Real Estate Investor or Retail Traffic as each includes a special supplement called “Why sustainability endures in the face of recession.” I found the section about embracing energy retrofits especially timely as Englewood Construction recently completed […]
Key Steps Commercial Developers Can Take to Ensure Their Contractors are Financially StableIn today’s market there’s no such thing as too much due diligence – especially when it comes to checking the financial stability of your contractors. Whether you’re hiring a general contractor, architect, engineer or some other consultant, their ability to pay their subs directly and on time affects the success of your commercial construction project.
For example, if your general contractor falls behind on paying their sub contractors, or they don’t pay them at all, then those subs have lien rights that you as the developer or your tenant will have to pay the sub contractor or defend your rights as a property owner.
How would you like to “find” thousands of dollars in your operating budget?
All you need to do is answer a couple questions. How did you file the documents for your last commercial construction project? Did your general contractor give you a big fat binder of information including your warranty letters, operating manuals, as-built drawings, etc? If so, you probably put those documents in a banker’s box or two and then stored them in your office. Or maybe you paid to have the documents stored in a warehouse.