Are you confident that your contracts include everything they should? Will your contracts hold up in the legal system?
In this episode, Karen Ensley sheds light on the “must haves” you need in your construction / restoration contracts AND strategies for avoiding some of the most common collection issues.
Karen Ensley “grew up in the business,” working firsthand in the construction industry prior to becoming an attorney. Now, she is a board-certified construction law attorney at Ensley Benitez Law, PC focused on representation of small and large commercial and specialty contractors throughout Texas. She is well versed in lien and bond claim law, collecting for unpaid work, and defending against claims of improper workmanship.
[1:40] Karen’s story and her journey from contracting to law
[6:23] Why Karen felt inspired to join the contracting world
[7:50] Most common issues with construction and restoration contracts
[10:32] This mistake will cost your contracting business BIG
[12:30] Common contract mistakes that have big negative effects
[21:27] The “Must Haves” in contracts
[24:00] How often are the “must haves” of a contract missing?
[24:50] Contract resources (and contractorprodocs.com)
[28:18] Important things every contract should have
[34:24] Importance of laws and contracts
[36:02] Common collection issues contractors should watch for
[39:20] The importance of a professional contractor for a homeowner
[40:11] The positive impact of a professional contract for homeowner
[43:08] Importance of homeowners being educated on the insurance process
[46:15] Profit & overhead in insurance
[48:44] Recognizing the fact insurance companies are the ones that generate the payments
[53:00] Supplementing and the importance of picking up supplement checks
[56:50] What contractors need to hear when they can’t get the owner to pay
[1:21:00] Arbitration and collecting on contracts
[1:02:20] How to connect with Karen Ensley + recommended resources