A general contractor (GC) can dramatically influence a project’s bottom line. That’s why its important to know the right questions to ask when hiring one. Some questions are obvious like, “Are you licensed and insured?” or “What’s your availability” However, the right questions probe deeper into a contractor’s qualifications and workflow. On your next construction project, here are a few questions that can help you gain insight when interviewing general contractors.
1. How long have you been in business?
There is something to be said for experience. All companies have growing pains. However, the successful ones learn how to handle problems and adapt to changing markets. Plus, years in business show a community’s trust in using that contractor. A professional general contractor would naturally provide their licensing to demonstrate their years in the industry. Lenders like OneSource typically want to know how knowledgeable and experienced a project’s contractors before funding loans.
2. What is your payment schedule?
Be upfront about money. After all, it’s your project. Avoid misunderstandings with a frank discussion of when and how payment will be expected. Get the payment schedules and dates in writing. Ask how any additional, unanticipated charges will be handled. Most importantly, be wary of a contractor that asks for full payment upfront. Qualified contractors typically don’t ask for full funding at the outset of a project.
3. What guarantees and warranties do you offer?
Licensed contractors should stand behind their work, and take prompt steps if you are not satisfied with the delivered product. Get all guarantees and warranties in writing with their stipulations. For instance, a call-back warranty means any work that does not adhere to the stipulated contract will be promptly corrected , as long as the non-conforming work is discovered within a certain time frame. Different states may have certain warranties required by law. It’s good to have a clear picture of what the contractor will cover before signing on the dotted line.
4. Who will be my project manager/site supervisor?
This question reveals how a company organizes their workflow, conducts due diligence, and handles customer service. For a new construction project or even a gut renovation, a project worksite can see new faces every day as new tasks are tackled. Tracking down how to lodge a complaint or who can answer questions each day builds frustration with the general contractor. Know who will be the face of your project and get a sense for how they tackle project snafus. Most importantly, make sure it’s the same person throughout the project. If that person is going on vacation, know their replacement.
Take your time picking a general contractor. Dig deep into their website, portfolio, and testimonials. Ask yourself “Can they really handle the scope of my project?” If you think so, set up an interview and don’t be afraid to ask the tough questions. Running comprehensive preliminary interviews not only secures your investment but will also show lenders like OneSource that you are a seasoned sponsor capable of managing an extensive project.