When you plan a property renovation in London, there are two things that are absolutely crucial:
- Finding a good London construction company,
- Singing a contract with the renovation crew you chose.
It is clear that if all the people walking on this planet had good intentions, it would not be necessary to write down contracts. However, there are situations that you cannot foresee. Especially during the renovation of your property. The case is simpler if you have a flat that does not require a lot of interference in the structure of the rooms. Very often, however, when investing, we significantly interfere with the layout and functionality of rooms in a flat or house during renovation. Efficient and trusted construction company from London is the key to the success of such an investment. Remember this important rule: you are signing a contract to protect yourself against any problems caused by the subcontractors on your investment. It is worth approaching this with due attention and dedication.
What should a contract say?
1. Introduction and appellation of the parties
The introduction should specify the parties who sign the contract. Write down the information about who the client is and who the renovation contractor is here. It is important to enter here the company’s registration number and the insurance number. You should not cooperate with a contractor who does not have insurance and hasn’t registered the company.
2. Definition of the subject of the contract
At this point, specify where exactly the renovation should be carried out. It is important to describe in detail the given place, the exact address. Please note here that the subject of the contract is specified in the "Schedule of renovation works", in the Annex to the contract with the London construction company. Specify exactly what will be the subject of the contract, so that there are no problems with enforcing your rights.
3. Deadline for the completion of works
Specify here the date of commencement and completion of renovation works. Specify how the flat will be handed over to the renovation team and how you will receive the flat afterwards. This is very closely related to the renovation work schedule attached to the renovation contract. Specify how the individual stages of renovation work in the flat / house will be received. This will avoid problems during renovation work on your investment.
4. Way of carrying out works
It is very important to determine the manner of performing renovation and construction works. Please note that the contractor undertakes to perform construction works in accordance with construction practice and applicable standards. Also, write that you expect to perform the work using the right quality tools.
There are many schools here related to how to pay for the work of a London construction company. Probably the best way is to set a flat-rate settlement for the whole renovation with payments for individual stages. Pay for the work that has been completed, never before. You should also consider leaving about 30-40 per cent of the funds to be paid at the very end of the renovation work. If you pay the contractors everything before you receive and assess their work and the quality of their performance, it will be very hard to enforce subsequent corrections in poorly made works.
As a standard, all repair work should have a warranty of minimum 2 years from the time the work is completed. Take care of it especially if you are an investor. Make sure that the team has a liability insurance. You should also think about getting an insurance for yourself. At least for the time the property is being renovated.
7. Contractual penalties
We all would like to be able to invest without signing contracts with the repair team. Unfortunately, life shows that without a contract that defines contractual penalties for non-compliance with contractual arrangements, you may have many problems enforcing your rights. It is important to have a well-designed renovation schedule. Only then you will be able to count how many days of delay you have and determine the penalties.