How to Write a Good Construction Contract

contruction contractI rarely see good contracts. Most people just make some stuff up without really thinking about what they are doing but as you grow you will find it necessary to create a contract template that would take a beating from the talented and “useful” legal minds currently knocking clueless contractors into the poor house. Check out the products page for a fully legal contract template. This article does not constitute legal advice. Consult an attorney for more information regarding contract law.

1. Basics

A contract is an agreement between two people. It should always be in written form to avoid confusion. 

A contract can be changed when all parties agree through a contract addendum, amendment or in a construction contract a change order.

Signing a contract is called execution

A contract must be balanced, fair and drafted with the intention of not misleading either party.

It must name both parties along with their performance. Performance means what they agree to do within the contract.

A contract must meet all legal requirements of the jurisdiction in which it is subject.

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Email marketing for Contractors

contractor marketing list

Most contractors don’t build a significant marketing database but they should.  Email marketing is a key strategy in keeping your business relevant in the minds of customers.

The obvious first step is creating a spreadsheet with customer emails. This takes consistent effort to retain this information. I always add customer emails to the contract themselves so the information doesn’t go missing after a few months.

How

Emailing your customers should be done annually or semiannually. I don’t recommend snail mail or any other form of mail because most people will trash it right away. But after they see your email they will do what everyone does with email. Leave it sitting their inbox as they go back to their lives. But fortunately when they remember they need a contractor they can quickly search their inbox for you recent email.

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cost segregation

Cost segregation is something people don’t talk about often. Most people are aware of tax depreciation associated with investment properties. Also most people use the standard variations of a few basic depreciation methods. However there are some pros and cons for the a real estate owner to consider concerning cost segregation.
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