11 – How progress claims can cost your property development project

Keeping your building team happy and content is critical to ensuring our property development project gets finished on time and within budget. Making sure everyone gets paid on time for the work they have done is a sure fire way to keep construction on track.

Today I speak with the creator of a service that could greatly streamline and improve the efficiency of your development project.

It is a service called progressclaim.com and it basically does what it says on the tin, and that is it electronically manages the monthly progress claim process.

Now I am sure you know how important it is that people get paid for their work, and ensuring the builder and the subbies get paid for work completed is critical to your project 1) getting built , and 2) you staying on good terms with your building team.

I have been going through the monthly task of ensuring the progress claims come in from the builder, get assessed by our architect and then reviewed by our quantity surveyor, and I know there is a lot of mucking about chasing detail, getting forms signed, or making sure spreadsheets are completed correctly, so I know the hassle that is involved. And most of it is done by email or phone calls, with mistakes and confusion so easy to happen. So when I heard about progress claim.com I was really interested in it because it seems to solve a real problem that exists in the building industry.

So I had a really good chat with the CEO of progress claim.com Lincoln Easton, I’m sure you will enjoy it too, and it may be a solution that your team considers to help smooth out the progress claim process.

In this chat we discuss the common issues that come up with progress claims, the impact they have and why it is important to get them right…

It sounds like progressclaim.com sounds like a good solution to a thorny, painful problem. I certainly know that getting the monthly progress claim paperwork and details sorted out is time consuming and at times frustrating.

Property Development Training

If you are interested in learning the fundamentals of property development, in your own time and at your own pace, then be sure to head over to www.propertydevelopertraining.com and take a look. I take you step by step through the development process so you know exactly what is needed to find a site, run a feasibility and complete a small scale property development, be that a duplex or 3 or 4 unit site. The training includes a bonus program called Taking It To The Next Level for people who may want to go into developing full-time, along with another bonus course called Raising Capital which covers how to raise money for your projects.

So head over to propertydevelopertraining.com and take a look... I would love to see you on the inside...

Property Developer Quiz

Keen to find out how ready you might be to become a developer? Then take the Property Developer Quiz (https://www.propertydevelopertraining.com/quiz) and get a sense of where you are at…

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