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property MaintenanceRemember....you get what you pay for! The only way we won't make money in these stocks is if the companies don't make it through this cycle," says Josh Spencer, homebuilding analyst with T. Rowe Price. "It's hard to think the housing market won't recover eventually and that homebuilding stocks won't get back to profitability. written by: Muskoka TradeSource Remember....you get what you pay for! In the last edition, we discussed the process of getting quotes on your project from potential contractors. This time we’re taking it one step further and looking at the importance checking the quality of your contractor – including appropriate insurance coverage, something that is extremely necessary for both the homeowner and those working on the site. Once you’ve narrowed your choices for a contractor down, your next step is to verify the quality of their work and to ensure that they work under proper insurance coverage and ethics. Laurie Campbell of Ed Campbell Construction Ltd. emphasizes the importance of doing some background research into your proposed contractor: “A gentleman’s handshake is no longer all that’s needed to secure a deal; it’s very important to verify the legitimacy and reputation of a company before signing anything.” So talk to friends, neighbours and acquaintances, ask a contractor to see their references, view some of their previous work to check quality, and make sure that the company is a reputable one. Free Classified Ads Canada's free, local classified site. Post your ads for free. Sell or exchange goods and services. www.alboa.ca Be aware, however, that just as you’re doing background work on your prospective contractor, they could be doing the same to you. Some contractors are now doing background checks on clients to verify their reputation when it comes to payment. “Attitudes about payment have changed,” says Campbell. “Both parties need to make sure that a payment schedule has been put into place. Have a discussion and agree on whether payments will be made in regular installments, or if invoices will be made once a month.” In addition, you need to make sure that the company / contractor you hire has all of the required insurance coverage. Says Les Bell, State Farm Insurance Agent, “Always verify that the contractor has the appropriate liability and disability insurance; otherwise, the homeowner is responsible for any damage, loss of hours, injury, etc.” Homeowners need to understand the importance of proper insurance coverage. If, for example, a contractor or one of his workers left some tools at the work site, and a child playing with or around the tools gets injured, one would expect the company to be held responsible. However, if the company isn’t properly insured, the onus is shifted and becomes the responsibility of the homeowner. We offer a wide range of services from wholesale modular sales & installation to a complete turn-key package for both residential or commercial projects. Financing programs are available to qualified buyers. With designers in both our office and at our manufacturer, your project is only limited by your imagination. Insurance coverage doesn’t stop with the contractor. All trades and subtrades hired on by the contractor must also have their own insurance. Not only does everyone involved in working on the project need appropriate coverage, but so does the property. Says Bell, “It’s a common misconception that people don’t insure property during construction. In fact, proper coverage should be in place even before excavation begins.” No matter what size the project is, whether it’s a minor repair, an addition, or the construction of an entire new structure, your insurance company should be aware of it. To find out what your responsibilities as a homeowner are, contact your insurance agent before any work is done and they will inform you of the appropriate coverage needed for the project. You don’t want to be held responsible for any injuries, loss of work time or loss of pay, especially if it’s something that can easily be avoided. “Only employ contractors with proper coverage and make sure you’ve got the necessary coverage on your property,” repeats Bell. It’s always better to be safe than sorry.The Builders London is the principal trade organisation for private sector housebuilders and voice of the home building industry in England and Wales. It is an exciting industry filled with many talented people and organisations, providing sustainable and attractive homes to meet the demands of consumers. Our member firms account for approximately 80% of all new homes built in England and Wales in any one year, and include companies of all sizes, ranging from multi-national household names through regionally based businesses and small local companies. 1. In a slump... data: 10.04.08 ... is it time to start feeling sorry for estate agents? 2. 'Faulty genes pass on asthma' data: 10.04.08 Asthma is likely to be passed on from parents to children in faulty genes, scientists have discovered. 3. Africa advances data: 07.04.08 Scientists dedicated to improving the lives of Africans 4. Police weapon handover criticised data: 19.03.08 Failings in the handling of weapons given to North Wales Police by the public for disposal are highlighted. 5. The simple pleasures of being all laid up, with no murder to solve data: 27.03.08 John Vinocur on the simple pleasures of being all laid up, with no murder to solve. 6. Somali UN peace force considered data: 19.03.08 The UN chief will recommend sending peacekeepers to Somalia if certain conditions are met, he says. 7. Udo Voigt, leader of German far-right party, charged with defamation data: 27.03.08 Voigt, head of the National Democratic Part, was charged Tuesday with incitement and defamation for allegedly publishing a pamphlet before the 2006 soccer World Cup that prosecutors said called into question whether nonwhite players should be on the national team. 8. Uganda rebels 'due to sign peace' data: 10.04.08 Uganda's Lord's Resistance Army rebels are expected to sign a peace agreement ending 20 years of civil war. 9. Now snow hits flights at new T5 data: 07.04.08 Heathrow's Terminal 5 is hit by more than 100 cancellations as snow causes further disruption. 10. Police spoke to missing presenter data: 10.04.08 Officers who spoke to TV presenter Mark Speight hours before he went missing say he appeared distracted. 11. More flights canceled as Heathrow remains in chaos data: 07.04.08 British Airways' chief executive offered a public apology for disrupting the travel plans of thousands of people. 12. Heather Mills and Paul McCartney: 'Waterfall' data: 19.03.08 The water thrown at Sir Paul McCartney's lawyer at the end of his acrimonious divorce settlement sounded like a "waterfall", Heather Mills' legal aide has said. 13. Writer Arthur C Clarke dies at 90 data: 19.03.08 British science fiction writer Sir Arthur C Clarke, author of more than 100 books, dies in Sri Lanka at the age of 90. 14. India's 'sensory assault course' data: 07.04.08 Peter Day says India's traditional bazaars and their sensory assault course are here to stay, despite an invasion by huge superstores. 15. Heather Mills vs Paul McCartney: what they wanted data: 19.03.08 On January 31 of this year Heather Mills argued that she and daughter Beatrice, four, needed ÂŁ3,250,000 a year to live, which equated to a total of ÂŁ99,480,000. 16. UK unemployment falls by 32,000 data: 19.03.08 UK unemployment falls by 32,000 in the three months to the end of January, government figures show. 17. Asian businesses and workers suffer from dollar's weakness data: 27.03.08 The sliding value of the U.S. dollar against most global currencies is putting many businesses and workers under increasing financial pressure. 18. Herrero wins Basque stage data: 10.04.08 Spaniard David Herrero won the third stage of the Tour of Basque Country in a bunched sprint finish on Wednesday. 19. Life in the 'open prison' of Gaza data: 19.03.08 The BBC's Aleem Maqbool, in Gaza, asks whether pressure aimed at weakening Hamas will actually have the opposite effect. 20. Richard Hammond: Review: Hyundai i10 data: 19.03.08 Instant Korean Classic 21. Kevin Maguire: Doctor delight data: 19.03.08 In his never-ending fight against David Cameron's Cybercons, Gordon Brown has enlisted a powerful ally: Doctor Who, aka David Tennant. 22. Comaneci no longer inspires Romanian gymnasts data: 27.03.08 Romanian girls no longer dream of being Nadia Comaneci -- that is the hard fact facing the country's women's gymnastics coach. 23. France seeks a deeper Western commitment to Afghanistan data: 27.03.08 Even as it considers increasing the number of troops it has stationed in Afghanistan, the French government believes that military might is not enough to bring stability to the country, the defense minister said Tuesday. 24. Shannon Matthews faces weeks of questioning data: 19.03.08 Shannon Matthews was kept unaware of the massive search for her as she was held captive in a dingy flat for 24 days, it has been disclosed. 25. Despite setback, France to pursue Betancourt's release data: 10.04.08 Bernard Kouchner, the French foreign minister, vowed to push ahead with efforts to free the French-Colombian hostage, even after her rebel captors, the group FARC, rejected a mission trying to reach her. 26. If you must fly, some suggestions data: 10.04.08 The fallout from the cancellation of more than 1,000 American Airlines is expected to disrupt schedules for every major airliner on Thursday. 27. What's so bad about Slough? data: 27.03.08 "Slough," which rhymes with "cow" and means "muddy quagmire," is not the only cross the English town has to bear now that a book has appeared, picking on it for being a grim, cheerless wasteland. 28. Delia recipes 'loaded with salt' data: 07.04.08 Campaigners attack recipes in Delia Smith's latest book for being too high in salt. 29. Omagh civil case due before court data: 07.04.08 A civil action against five people relatives believe were behind the Omagh bombing is due to begin. 30. Olympics: Kluft to skip heptathlon data: 19.03.08 Olympic champion Carolina Kluft will not defend her heptathlon title at the Beijing Games this year. |