Hiring Subcontractors: Payment Arrangements
QUESTIONFirst I want to thank you for replying back so quickly. I am so enjoying your staging book. I get goosebumps reading it and thinking about actually doing it.
I do have another question. You had mentioned a daily fee ie. $500.00 a day for a home needing many projects done. If we are not confident in doing the repairs, cleaning or painting and need to hire it done do we use our daily fee to pay the workers? Still confused. so sorry. I just want to be very consistant about the $ part to be fair.
ANSWER
Holly, well you'd have to balance out the cost of paying someone and compare to what you are getting and see if you're still making enough to "oversee" the project. But my advice is to put your person in touch with the homeowner and let them work their own deal. Have the vendor build in a referral fee for you. That way if the vendor screws up, you're not caught in the middle. If you accept a fee and hire the laborer yourself, you can do that, but then the contract is between you and owner, and if the job is sub-par, you will have tocorrect the problems or issue a refund. So it's kiind of precarious. In most situations, it's best to let other sub contractors strike a deal with the seller on their own, giving you a referral fee. In that case, might be good not to collect a fee from owner, unless they want you on the premises while the work is done. They probably won't as it will cost them for the service.
posted by Barbara Jennings @ 4:37 PM
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