Is the O & P built into the depreciation amount? Have to pay contractor the contract amout that is left and he now also wants the depreciation amount. He said in the beginning, no out of pocket money." Now he says different. Should I pay him the depreciation amount?
I feel he oues me for loss of rent, plus I lost a rental contract on this duplex unit. It took him 8 months to complete a 900sq.ft. duplex unit. It was promise to me on the 25th of July and tenant could not move in. I need to present him with a bill for my loss.
2006-08-06 12:45:53 · 3 answers · asked by J.J. 1 in Business & Finance ➔ Insurance
He should have insurance
2006-08-10 10:03:33 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Your up front contract should have contained a clause stating what would happen int he event he was late. More than likely he is not responsible for lost income due to his tardiness.
There is also most likely a clause regarding the depreciation amount.
If you do not have a standard contractors license than you are dealing with an ameteur who wil try to take advantage of you every step of the way. I would disagree with everything he says and he can take you to court if he wants. Pay him the original amount agreed on and not a penny more, unless a signed contract says otherwise
2006-08-06 19:51:31 · answer #2 · answered by billyandgaby 7 · 0⤊ 0⤋
I'm not sure.
The next time you sign a contract, stipulate a deadline for completion, with penalties.
2006-08-06 19:50:59 · answer #3 · answered by ed 7 · 0⤊ 0⤋