<span>HIRING A RENOVATOR WITH CASH UNDER THE TABLE IS RISKY BUSINESS.</span>
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HIRING A RENOVATOR WITH CASH UNDER THE TABLE IS RISKY BUSINESS.

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Remont_podnimaem_klass_jilyaOne of our Canadian clients pointed us to an article that she suggested for us to publish. Great read. Thank you, Sally! Here it is, as promised: by Bryan Tuckey,  TORONTO SUN: HOMES –  REAL ESTATE NEWS.

“Your home is likely the largest asset you will ever have, so when the time comes to renovate, you want to make sure it’s done right.”

A home renovation can significantly improve the value of your home, as well as make it more enjoyable for you and your family.Whether you are opening up your living room to embrace modern open-concept design, upgrading your bathroom with energy-efficient features or simply adding a recreational room in your basement — all these projects require the attention of a professional renovator.

A professional renovator has the knowledge and experience to assess your project and provide you with a reasonable timeframe and price tag.

These details will be included in a written and signed contract and your renovator should maintain a constant stream of communication to ensure that you are kept up to date on the progress status.

I understand the temptation behind hiring someone for cash under the table to avoid paying tax, but doing so is risky business. If you think hiring a professional is expensive, just wait and see how much it costs to repair a project handled by an amateur.

Professional renovators, carry all applicable licenses and permits, provide at least two years of warranty on all jobs and ensure that all agreements are documented in a detailed, legal contract — the most important part of a renovation project.

Without a formal contract, a renovator cannot be held accountable for producing substandard work or even for bailing on the job.

This will leave the homeowner’s hands tied if legal recourse is in order, which often results in hiring a professional to finish or repair the existing work — something that may cost a lot more than simply hiring a pro from the beginning.

Another great reason to use a professional renovator is its contribution to the local economy. The renovation industry creates thousands of new jobs every year in construction and related fields.

Just in 2013 alone, the renovation industry in the GTA created 100,000 jobs that paid out an impressive $5.4 billion in wages. These wages later show up as purchases of food, clothing or entertainment across our local economy, further adding to our region’s economic growth.

Renovators operating in the underground economy are detrimental to the economic prosperity of our region, withholding thousands of dollars worth of tax-generated revenue.

This is money that can be used to improve our communities by building or repairing roads, community centres and charitable events.

It’s important to consider the economic implications of using an underground renovator and realize that it’s detrimental to our neighbourhoods.”