5 Ways to Keep NYC General Contractors Honest
General contractors in NYC are fastmoving and competitive. Although most construction companies in NYC are hardworking and fair, you do have to watch out for the bad ones. Here are three ways to keep NYC general contractors honest when it’s time to sign the contract.
Using an escrow account is one way to keep an NYC general contractor focused on doing the job right. An escrow account acts as a neutral third party who can distribute payment in milestones upon completion. Hire a lawyer if necessary to form the legal framework of payment conditions.
Pay in Installments
For smaller jobs, homeowners and businesses will pay NYC general contractors in three equal installments: before, during and after construction. Larger projects can become more complicated and should use a lawyer to outline fair payment stipulations.
Do Not Pay for Incomplete Work
If you pay for too much work in advance, it will be difficult to recuperate your losses in court should any problems arise. Contractors can also fall behind, so you don’t want to pay them in advance and face numerous delays later on.
Hire an Architect
An architect will be able to manage larger renovations and construction projects that homeowners and businesses cannot handle. Architects can help balance your ideas with your budget and city code. They will also be able to tell you if you are receiving a fair estimate.
Check Their License
This one is rather obvious, but make sure that every NYC general contractor you interview has a valid NYC construction license. They should also be knowledgeable about NYC construction permits and be able to easily pull all necessary permits within a timely manner.