subject: Medford Oregon House Painter [print this page] Im not a painterIm not a painter. What I am is a real estate investor. Over the last 35 years Ive owned countless rental properties, apartments, office buildings, shopping centers and warehouses.
Ive dealt with hundreds of painters. For new construction. For hundred year old buildings. And everything in between.
Ive had some great experiences, and Ive had some real disasters, too. What Ive learned over the years is all here for you in these free videos. As you watch them in the coming weeks, youll learn everything you need to know to get the best painting work at the best price.
WHAT KIND OF CONTRACT IS BEST?
Many a homeowner has had a nasty surprise when the final bill for the painting job came in much higher than the estimate.
The mistake they made was in thinking that the estimate was the agreed upon price. Its not. Its only an estimate. Unless you have a firm agreement, the painter is free to charge you anything he wants, and simply say the job took longer than he expected.
There are three ways to protect yourself from this, by using specific kinds of contracts.
The first is a Fixed Price Contract. After you and the contractor have agreed to the scope of work, he gives you a number. Thats the price, unless you change something, then you pay for the change. Make sure you agree how changes will be priced.
This is the most certain pricing method for you, and puts all the risk of the job running long onto the contractor. So naturally he will quote a little higher than some of the other methods to allow for his risk.
The second type of contract is a Time and Materials quote. This can be a good way to go if you also get a not to exceed maximum price.
This pricing method takes the guesswork away from the painter and puts it on you. You could save some money doing this, but the painter has no real incentive to work harder or faster, since all the savings are yours.
The third type of contract, the one I like the most, is a Guaranteed Maximum Price with shared savings. This one is a blend of the first two, with something in it for both you and the painter. You get the comfort of a fixed price bid. But if the painter can get the job done more quickly, then he gets half of the savings and you get the other half.
A Win-Win. Just make sure that you keep an eye on the job so that the quality of the work stays up.
