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Updated over 7 years ago on . Most recent reply

User Stats

86
Posts
38
Votes
Kyle Bergren
  • Las Vegas, NV
38
Votes |
86
Posts

Incentives/Penalties to keep Contractors on Schedule

Kyle Bergren
  • Las Vegas, NV
Posted

BP members, I'm have a little frustration keeping contractors on a deadline in my fix and flips... Primary problem is dealing with the big box retailers installing new carpet. I have been rescheduled two times and not quite confident when this will get done and have been waiting 2+ weeks already.  I'm aware of liquidated damages clause or on-time bonuses but wondering if you any of you had success putting these clauses to good use in your contracts?  What incentives or penalties have you used to keep these contractors on task, even the big box retailers? 

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