Significant cost pressures are associated with running a successful strata scheme, so it’s natural for Owners Corporations to try to find ways to keep expenses down. Unfortunately, the old saying, ‘You get what you pay for,’ often rings true when it comes to trade professionals and contractors. In this article, we’ll consider whether the cheapest contractors are really worth it.
Price versus quality
You should never pay over-inflated prices for trades, but you need to find a balance between quality and price. By choosing the cheapest contractors, you risk receiving a lower quality of work, and in some cases, you’ll need to pay twice for another contractor to come and fix the poor work.
Overall, investing in high-quality services is actually more cost-effective than using budget contractors.
What should you look for instead of the cheapest price?
If you want to avoid the dangers of using cheap contractors, what qualities should you look for instead? Here are some factors to consider when choosing contractors.
Reputation and trusted recommendations
Ideally, Owners Corporations and strata managers should have an established network of trusted contractors for all purposes. This includes gardeners, maintenance professionals, plumbers, building contractors, electricians and more.
The best way to build this network is by reputation and recommendations from people you trust. For example, More Than Strata only works with contractors we trust and have used before. We’ve seen the quality of their work, and we trust them to get the job done properly.
Experience and quality of work
Typically, contractors with low prices are new to the industry. They don’t have the experience that allows them to charge higher rates yet. We certainly don’t advocate making your choice based solely on who has the highest rates because this may not always be cost-effective either. But it’s always best to look for contractors with several years of experience and a comprehensive body of quality work behind them.
Insurance and licenses
While you would expect that all tradespeople have the appropriate professional licenses and insurance coverage, it’s not always the case. As a strata manager, committee or Owners Corporation, you have a responsibility to only use licensed contractors. Unlicensed electrical work, for example, can void insurance policies and leave you open to litigation in the event of injury or property loss.
When hiring any contractor to work on your building, ask them for evidence of their licenses, accreditations, and, importantly, their insurance policy. Most contractors carry professional insurance to protect their customers if something goes wrong.
Looking for strata management services?
More Than Strata takes extra care when recommending and hiring tradespeople on behalf of your Owners Corporation. In most cases, we only use professional contractors we’ve worked with before and who we trust. In the case of hiring new contractors, we conduct all basic compliance checks to ensure they have the appropriate trade licenses and insurance. To ensure quality work every time, More Than Strata has got you covered. Contact us today for more information.
