"Things will go wrong, but will be lessened if you’ve got the right team"
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Finding the Right Tradespeople for your Property Development
So you’ve got your property and now you’re ready to start developing. It’s important now that you surround yourself with the right people. You know there’s a couple of way you can deal with that.
When you were purchasing the property you may have had a relationship with a surveyor, that has helped you to purchase, you may be able to help you manage the development. Of course you may have already had some experience in the industry, and you might have a team of people already.
But a very easy way to build a team that you can work with, when you identify the type of work you need doing to the property, is to put the work out to tender. Once you do that, you’re going to have tradesman visiting to see what the work is, that’s going to give you an opportunity to get a feel for who these people are. You’ll easily weed out the ones who are trying to sell you things you don’t need to do. And also you’ll be able to pick out the ones who are honest, and sincere in their approach to the work. People you know you’re going to be able to work with.
We all know that in any project delays are inevitable. Things will go wrong, but this will be lessened if you’ve got the right team you’re working with. If you have the right people on your side and the right people, who you can trust to get on with the job then you’re going to encounter less problems. So it’s worth putting the time in and investing some effort in building the team that you need to work with.
Project management. Now that’s a role that most people want to take on themselves. They feel that they’re confident and capable of doing it. But you know, you have someone manage the project quite easily for you – people who have some experience. Quite often your main contractor is more than happy to take on the role of project managing. So whether the biggest amount of work you have to do is a building project, or an electrical project, or a plumbing project, the person who is handling that aspect of the work for you, the largest aspect of the work, will quite often be happy, in fact, they’d probably prefer to take on the role of project managing for you, because then they can work around the other tradesmen coming and going throughout your project.
That’s going to save you the cost of an actual project manager, and it’s going to ensure that work gets done when it’s supposed to get done, and in the main it’s going to come in on budget.
So once all the work is complete then you need to add the next member of your team. And this is a very important person – your estate agent, or your letting agent if you’re letting the property. Having the right letting agent, or estate agent on side is vitally important. You know, like every other service or trade there is good and bad, if you have a good letting agent, or estate agent on board, they’ll make sure your property is looked after. If your letting the property you want to be sure that are coming in. The wrong tenants are going to cost you money in wasted rent, in damage to the property and having the right agent on board ensures that they carry out references and a proper inventory; they’ll make sure that the property is maintained, or carry out regular checks on it. They’ll act as a liaison between tradesmen when gas safety check are needed or when vital repairs need to be done. But that’ assuming you get the right person on board. So again, it’s worth your time investing some effort in finding the right letting agent, or estate agent for you property.