All Forum Posts by: David Cho

I would strongly recommend that you require both General Liability and Workers Compensation for all contractors you are paying for work on the property. You should consult with your attorney for requirements you should have in any contract. Some of the things we see large property owners require (and will not let the contractor begin work until they are satisfied):

1. Owner of property named as an addtional Insured with a 30 day notice of cancellation

2. listed out requirements for limits on Liability, workers comp., business auto

3. That the contractors insurance is Primary & Non-contributory & that it waives subrogation

4. There are often Hold Harmless & Indemnification clauses in favor of the owner

5. requirements that the contractor require the same things of any subcontractors they hire.

Your attorney may have other suggestions.

Thank you! That's great advice

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@Jackson Babcock appreciate the info!

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@Paul Dashevsky thanks for the info!

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Hello everyone. Just have a general question. When hiring contractors or subcontractors, who are licensed and bonded, should they also be insured aka have general liability insurance and worker's compensation? Is it standard for them to be insured or are people hiring contactors that are not insured?

Thanks for you input!

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Thanks everyone. this is very helpful!

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Hello everyone.

My wife and I are just getting involved in real estate and starting to learn the process. We are looking at single family homes to occupy as owners but eventually rent out. One of the properties we're looking at has an electric transformer(beige electric box) on the edge of the front yard as well as a fire hydrant on the other end of the front yard. Does anyone have thoughts on these items on the property affecting the value? aka resale value or rentability? Very much appreciate your input.

David

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All Forum Posts by: David Cho

David Cho has started 2 posts and replied 7 times.

Post: General Contractors and insurance

Post: General Contractors and insurance

Post: General Contractors and insurance

Post: General Contractors and insurance

Post: General Contractors and insurance

Post: Transformers and fire hydrant on front yard?

Post: Transformers and fire hydrant on front yard?