Do you hire bonded, licensed & insured contractors for rehab?
Hi,
I'm currently managing a rehab remotely in of my rentals (out of state). For years we've been using our Property Manager's contractors, but their prices just don't seem attractive anymore, and I'm pretty sure they're taking advantage of the fact that they know we're out of the state investors.
I called dozens of contractors and handymen in the area and made a large spreadsheet with prices and notes next to each one. I was able to clearly see how all contractors who were either bonded, licensed and/or insured we at least 30% more expensive than the others.
The rehab we're doing in that property mainly consists of cosmetic repairs, painting, carpet replacement etc... I don't believe a licensed contractor is needed for most of these tasks.
I would like to ask you folks, what's your take on this?
Do you strictly work with licensed and insured contractors?
Are there some specific jobs where you would ONLY use licensed workers (such as roofing, plumbing, electrical)?
I would like to thank y'all in advance for any replies, and would also be grateful for any tips on successfully managing remote rehab projects.