Need advice on multi unit project

[Susie Wilson]

Hi Everyone!

Currently, I have a 10 unit apartment building being renovated. I issued a draw to our HVAC/Plumbing contractor to get this project to the rough-in inspection.  The HVAC is ready for rough in and plumbing is only about 30% complete.  This is holding up the entire project up from moving forward.  The contractor has continued to give numerous excuses over several weeks.  I need to move on with this project with another contractor but need a portion of the draw money back.  

Has anyone experienced a situation like this and how did you handle it?  What was the end result?

[Doug Crenshaw]

Hello Susie... Well it sounds like your draw amount may have been too large to make them second guess finishing the project. More than likely they have another project that they are moving on to instead of working on yours. You have two choices to make - 1) continue to allow this one contractor to delay everything or 2) Move on and count your losses. I don't know the numbers you are working with, but you have to ask yourself if it is worth hanging on.. or letting go? I had the same thing happen to me years ago on a SF and I decided that lost rent was going to cost me more than waiting on the contractor to finish. In the words of the late Kenny Rogers... Know when to hold'em and know when to fold'em... Hope that helps and good luck!