You’ve decided to make some pretty involved improvements to your investment property. Problem: said property is over a 1,000 miles away, and as charming as it seems, you’re not ready to transfer your whole life there just yet.
How can an absentee homeowner gauge if the prices being quoted match the work that needs to be done and represent the services required? You can’t.
Living part-time or visiting a location occasionally may give you a taste for what is available in the area, but NOTHING beats local knowledge by established professionals, particularly when the work that needs to be done requires specialized skills and knowledge of local regulations.
For example: a general contractor must have intimate knowledge of construction AND of the local construction codes which often differ from town to town within a geographical location. For instance, Coral Gables construction codes are more strict than those of Aventura or the City of Miami.
• How much time are you willing to allot for the project?
• What is your budget for the project?
• Have you taken into account the cost of permitting?
TBR Property Management Services works closely with experienced, licensed and qualified GCs who know the local regulations and the cost of permitting.
• If the property is an investment with a tenant, how long will the project take?
• How long will you be without that income?
Next Post To Airbnb or not? That is the question. The answer: Just. Say. Yes.