Always Pay your Builders for Refurbishment Projects
Whilst reading the morning papers came across an interesting article in the Telegraph. A builder who did an extension had an issue with a home owner. Out of an act of fury he basically destoryed their house over a 3,500 dispute.
The homeowner went on holiday and to their horror, they found that the builders were gone and the bedrooms did not have a roof. From a new extension to bedrooms without a roof.
The homeowner bought last year for £475,000, and now that house is effectively in ruins, with a front garden piled high with rubble.
Lesson, always pay your builders on time. Always get a building quote. Always pay in installments.
This morning for example I recieved payment due for works completed on one of my Social HMOs. I sent the invoice to the accountant for CIS, recieved approval and paid the invoice. This motivates our builders and keeps them working fast on my other upcoming social housing HMOS.