Do I need a contractor?
Most Hosts rely on a general contractor (GC) to renovate the property and get it ready to PadSplit. We highly recommend partnering with licensed GCs in your area with a strong track record. Another option is to rely on referrals from trusted investors or other PadSplit Hosts who have done similar work to their properties previously. Finding a GC with experience in custom single-family renovations is a major plus. PadSplit does not offer GC services but feel free to reach out to your PadSplit representative for potential recommendations in your area. For any real estate project, a number of judgement calls will have to be made in order to optimize the profit of the property. A high level of trust with your general contractor is critical.
Watch out for these common pitfalls when working with a general contractor:
- Failing to walk the property and agreeing on a plan
- Failing to align on a detailed, by-line item quote prior to beginning work
- Failing to supervise the project
- Not obtaining the proper permits for the project
- Permitting requirements vary from municipality to municipality. It is the responsibility of the host to determine if any renovations require a construction permit. Please comply with all relevant local regulations and building code.
