What To Do When Construction Clients Don’t Pay
What To Do When Construction Clients Don’t Pay
In construction, late payments are common, and it takes considerably longer for construction businesses to get paid. For construction businesses, the average daily sales outstanding (DSO)—the time it takes to collect on invoices—is 60 days. The general DSO average across various business sectors in the United States is 45 days.
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In construction, late payments are common, and it takes considerably longer for construction businesses to get paid. For construction businesses, the average daily sales outstanding (DSO)—the time it takes to collect on invoices—is 60 days. The general DSO average across various business sectors in the United States is 45 days.
In construction, late payments are common, and it takes considerably longer for construction businesses to get paid. For construction businesses, the average daily sales outstanding (DSO)—the time it takes to collect on invoices—is 60 days. The general DSO average across various business sectors in the United States is 45 days.
It can be frustrating when association members don’t pay their dues on time, or at all. If multiple members are behind on payments, this can create financial difficulties for the association and may impact its ability to provide services or run programs. Here are some recommendations for dealing with this situation: 1. Communicate with members who are behind on their dues. Send a reminder notice or make a phone call to remind them of their outstanding balance. 2. Be understanding of members wh...
It can be frustrating when association members don’t pay their dues on time, or at all. If multiple members are behind on payments, this can create financial difficulties for the association and may impact its ability to provide services or run programs. Here are some recommendations for dealing with this situation: 1. Communicate with members who are behind on their dues. Send a reminder notice or make a phone call to remind them of their outstanding balance. 2. Be understanding of members wh...
Late fees are designed to encourage tenants to pay rent on time. Though a late fee won’t make any difference among tenants who genuinely don’t have the money, there are other reasons tenants pay late. Late fees can be a deterrent for those situations. Why would someone not pay the rent on time when they... [Read More]
Late fees are designed to encourage tenants to pay rent on time. Though a late fee won’t make any difference among tenants who genuinely don’t have the money, there are other reasons tenants pay late. Late fees can be a deterrent for those situations. Why would someone not pay the rent on time when they... [Read More]
Every day, homeowners insurance claims are denied, either by mistake or sometimes for causes no one comprehends. Suppose you have suffered an insured property loss, and your insurance company has rejected your complaint. In that case, you have some options to confront your homeowners' insurance claim refusal. This includes talking with a specialized lawyer, among many other things. Denied Insurance Claim Insurance policies are legally binding agreements. All homeowners' insurance polici...
Every day, homeowners insurance claims are denied, either by mistake or sometimes for causes no one comprehends. Suppose you have suffered an insured property loss, and your insurance company has rejected your complaint. In that case, you have some options to confront your homeowners' insurance claim refusal. This includes talking with a specialized lawyer, among many other things. Denied Insurance Claim Insurance policies are legally binding agreements. All homeowners' insurance polici...
Association fees are a necessary part of living in most condominiums, apartments, and townhomes. They keep the common areas clean and running smoothly, and they help to pay for important repairs and maintenance. But what exactly do association fees cover? An association fee is a periodic charge that owners of units in a residential development must pay to the homeowners’ association (HOA). The HOA is a legal entity created by the developer and turned over to the ownership upon completion of th...
Association fees are a necessary part of living in most condominiums, apartments, and townhomes. They keep the common areas clean and running smoothly, and they help to pay for important repairs and maintenance. But what exactly do association fees cover? An association fee is a periodic charge that owners of units in a residential development must pay to the homeowners’ association (HOA). The HOA is a legal entity created by the developer and turned over to the ownership upon completion of th...
SHOULD YOU ALLOW TENANTS TO HAVE RECREATIONAL ITEMS ON YOUR PROPERTY? When summer comes around it gets hot and we’re all looking for some relief. As rental property owners, we can sympathize with tenants who are trying to beat the heat, but what should you do if tenants want to put up a small pool? What if they buy a trampoline for Junior’s birthday and now it’s sitting in your yard? What if the tenant’s son is poised to become the next Tony Hawk and all of a sudden there’s a halfp...
SHOULD YOU ALLOW TENANTS TO HAVE RECREATIONAL ITEMS ON YOUR PROPERTY? When summer comes around it gets hot and we’re all looking for some relief. As rental property owners, we can sympathize with tenants who are trying to beat the heat, but what should you do if tenants want to put up a small pool? What if they buy a trampoline for Junior’s birthday and now it’s sitting in your yard? What if the tenant’s son is poised to become the next Tony Hawk and all of a sudden there’s a halfp...
This week’s question comes from Mantas on the Real Estate Rookie Facebook Group. Mantas is asking: My buddy placed an offer substantially above asking price and the seller, before accepting the offer, asked my friend if he would pay the difference if the appraisal came in lower than the offer. Anyone encountered this situation and what would be the best response if any? Ah, the classic appraisal gap/appraisal contingency. During hot housing markets (like we’ve been experiencing over the past...
This week’s question comes from Mantas on the Real Estate Rookie Facebook Group. Mantas is asking: My buddy placed an offer substantially above asking price and the seller, before accepting the offer, asked my friend if he would pay the difference if the appraisal came in lower than the offer. Anyone encountered this situation and what would be the best response if any? Ah, the classic appraisal gap/appraisal contingency. During hot housing markets (like we’ve been experiencing over the past...
Keeping renting out properties long enough and you’ll encounter junk abandoned by your tenants. Deni and Brian break down what to do when you discover your renter moved out and left behind trash, furniture, and more. Video Broadcast Version Audio Podcast Version Also available on iTunes, Stitcher, and wherever else you listen 🙂 Resources Mentioned in This Podcast & Video: Want to compare investment property loans? What short-term fix-and-flip loan options are available nowadays? How about ...
Keeping renting out properties long enough and you’ll encounter junk abandoned by your tenants. Deni and Brian break down what to do when you discover your renter moved out and left behind trash, furniture, and more. Video Broadcast Version Audio Podcast Version Also available on iTunes, Stitcher, and wherever else you listen 🙂 Resources Mentioned in This Podcast & Video: Want to compare investment property loans? What short-term fix-and-flip loan options are available nowadays? How about ...
Bryan has spent the last two decades building successful real estate ventures. His best-selling books “Buy it, Rent it, Profit” and “The Landlord Entrepreneur” are considered essential guides for investors looking to build lasting wealth through multifamily real estate. Bryan is also the runner of a private equity firm called “Chavis Capital” and he also launched “The Multifamily Metrics Academy” which is all about coaching and consulting to help leaders get into the real estat...
Bryan has spent the last two decades building successful real estate ventures. His best-selling books “Buy it, Rent it, Profit” and “The Landlord Entrepreneur” are considered essential guides for investors looking to build lasting wealth through multifamily real estate. Bryan is also the runner of a private equity firm called “Chavis Capital” and he also launched “The Multifamily Metrics Academy” which is all about coaching and consulting to help leaders get into the real estat...
After all the stress, money spent, and late nights packing, you’re finally at your new home and ready to unpack and settle in for the last leg of your move. Only, you discover your pricey, one-of-a-kind glass coffee table has been shattered. Or the box filled with family heirlooms is missing. Or while pulling in, the moving truck dings the fence and knocks over your mailbox. These can be nightmare scenarios, depending on how precious the item is and how expensive it could be to replace. But th...
After all the stress, money spent, and late nights packing, you’re finally at your new home and ready to unpack and settle in for the last leg of your move. Only, you discover your pricey, one-of-a-kind glass coffee table has been shattered. Or the box filled with family heirlooms is missing. Or while pulling in, the moving truck dings the fence and knocks over your mailbox. These can be nightmare scenarios, depending on how precious the item is and how expensive it could be to replace. But th...