The Role and Requirements for a General Contractor in Tampa, Florida

Many homeowners in Florida are comfortable with hiring a handyman or specialist for specific home-related jobs. This would include smaller tasks such as replacing a toilet, laying new flooring or installing a generator. Yet, for bigger jobs, such as a kitchen remodel, the work quickly becomes significantly more complicated. In projects such as this, several specialists are hired to complete the different parts of the job. However, most jobs build on one another and therefore must be scheduled in a particular order. It is the responsibility of the general contractor in Florida, to schedule each specialist in the correct order and to ensure that all jobs are completed with ease and success. Each subcontractor, from the plumber, to the flooring specialist, to the person fitting the cupboards, needs to be managed and coordinated correctly.

 

The Role of a General Contractor

This is where the skills of a general contractor come to the forefront. It is their responsibility to assess the full scope of the project from the very initial meeting with the homeowner. The GC is responsible for devising the project plan to ensure its successful completion within the estimated timeframe and budget.

General contractors also serve as the primary point of contact for all subcontractors and the client. To manage this successfully, you will need to have a good understanding of all aspects of home remodeling and be able to answer any questions that the homeowner has. This includes insights into the specific types of needed building materials and the skill level and number of workers that will be required for the job. You will also need to manage the client’s expectations by providing a realistic timeline for completion as well as pulling the necessary building permits. This will ensure the project is completed safely and within specifications.

Why Up-to-Date Paperwork and a Contract is So Important for a General Contractor

A contract is a binding legal agreement guaranteeing a service between two (or more) people. As a general contractor, when you sign a contract, you agree to fulfil the demands of that contract. In the case of a home re-model, as the general contractor, you are in-charge of the construction site. You should use the contract, that both you and the client have agreed to, as a blueprint or reference for all aspects of the job.

The goal is to meet the terms of the contract and ensure that the client is satisfied with your work. In the event of a dispute with the client, having a robust contract in place will govern the specifics and hopefully clarify any discrepancies over what was agreed upon.

Nevertheless, the contract will only be valid if your paperwork is up-to-date. This may mean pulling the relevant permits and filing for licenses, renewals and annual reports yourself. Many general contractors in Florida choose to work with Contractors Reporting Services to manage their paperwork needs. We work hard to ensure that all documents are current and in place, so that you can focus on running the day-to-day operations of your business.

Ultimately, as a general contractor in Tampa, Florida it is your job to oversee the daily operations of a project as well as operating as the point of contact for all parties. Your overarching goal is to complete the project according to the specifications of the signed contract while ensuring that all necessary paperwork is in order. This will guarantee that the contract is valid and will safeguard your business in the event of a dispute.

The next post was originally published to The Role and Requirements for a General Contractor in Tampa, Florida and is courtesy of Contractors Reporting Services. Find more on:} Contractors Reporting Services

The Best Way to Win the Job as a General Contractor in Florida

Your job as a general contractor in Florida is to simplify the construction or remodeling process for the homeowner. In many cases, homeowners have had a bad experience or have heard horror stories by a friend who’s had a remodeling project go badly. This is usually due to an unreliable general contractor. Therefore, the best way to win a job is to build the customer’s confidence in your business. They are more likely to choose your services if you answer their questions, ensure your paperwork is in order, share good references, offer a written estimate and set up clear terms of payment.

 

1. Answer All Their Questions Quickly and Efficiently

The way that you conduct yourself in your dealings with the client, gives them a good idea of what they can expect for the rest of the project. Prior to the homeowner signing with you, ensure that you answer all their questions as fully and as quickly as possible. This will allow the client to see how you will conduct yourself as their advocate once the contract has been signed.

Answer all questions thoroughly and make it easy for them to understand. Homeowners want to be confident that they comprehend the implications for the project. For example, they want to know their expected cost and the estimated timeline for the project. Be as transparent about the whole process as possible, so that your client feels comfortable moving forward with you at the reins.

2. Ensure That All Your Paperwork is in Order

A homeowner or building owner, especially for larger projects, will do their due diligence researching your company. Therefore, it is essential that you have all your paperwork in order. This means ensuring that you are up to date with all licensing and insurance requirements. This can be managed yourself or outsourced to experts such as Contractors Reporting Services. The necessary documents include:

· Local license registration and renewals

· Workers compensation exemptions

· Workers compensation coverage

· Financial stability reviews

· Corporation set-up and amendments

· Annual reports

· Business tax registrations and renewals

3. Share Your Best References

Your client is trusting, when they sign a contract with you, that it is going to be a stress-free experience. You can move them closer to signing by supplying written and telephonic references if necessary. By being pro-active in this part of the process you gain more control over who the client listens to, as well as reinforcing why your business would be the best choice. Draw up a list of good references in advance and share contacts who are relevant when asked. Relevant contacts would be the satisfied clients for whom you have completed similar work in the past.

4. Be Willing to Offer Estimates in Writing

Offer a free estimate in writing and provide it to the client as soon as possible. Be sure to include as much detail as you can, so that when the client is comparing quotes from different contractors, they can make direct comparisons for like services. Here you should include a list of products to be used (be specific including product names and part numbers for premium products), the services that are included and the cost of labor. You should also be upfront about the project’s timeline and any milestones.

5. Set Up Clear, Fair Payment Terms

When setting up the terms of the contract, one way you can grow the client’s trust is to clearly and systematically detail how and when they will need to pay. Typically, at the start, you would request a percentage be put down by the customer and then payments would be released in increments as the milestones are completed. A sign of a reputable contractor is being willing to work until the job is complete prior to requesting the final payment.

By following these five best practices, as a licensed general contractor in Florida, you give yourself the best chance of being chosen as the winning bid for a contract.

The following post was first published on The Best Way to Win the Job as a General Contractor in Florida and is courtesy of Contractors Reporting Services. Read more on:} Contractors Reporting Services

5 Ways to Outsource Your Paperwork as a General Contractor in Florida

Contractors Reporting Services in Tampa, FL leads the way in helping general contractors run their construction business. From assisting with Florida contractor’s license requirements and sharing insight into how to become a contractor, they offer an end-to-end service for general contractors.

As a licensed general contractor you have more than enough to deal with on a daily basis without the additional stress and headaches of paperwork. While you understand the importance of filling the annual reports with the Secretary of State and keeping your workers’ compensation exemption renewed, it can be difficult to fit these tasks into an already packed day.

Application Service for Your Florida General Contractor License

Once you have passed your State exam in Florida, you will need to provide specific application information for that trade. You can use an Initial Application service to help you obtain your general contractor license quickly and efficiently to avoid any delay.

Financial Stability Reviews and Reporting

These reviews and reports include checking public records at the County, State, and Federal levels. Both the State as well as the relevant local County or City municipalities will approve these reports. They will be completed by Contractors Reporting Services within twenty-four hours of receiving the information.

Corporation or LLC (Limited Liability Corporation) Formation

This does not need to be an expensive undertaking. In stark contrast to other overpriced websites, Contractors Reporting Services offers an affordable solution. Friendly, professional staff offers a customized solution and the personal attention that you need. We’ll answer all your questions and deliver the right  solution for your business, setting you up as either a C-Corporation or S-Corporation.

Registration and Renewal of Licenses

It can be difficult to keep track of when and how to renew State and Country licenses. In order for a general contractor to remain in compliance with State Statuettes and Local Codes, an outsourced service is invaluable.

Additional Entities

We can assist If you hold a general contractors license for one company and wish to qualify a second, or in the instance where you hold multiple licenses and wish to qualify a separate company with any of your licenses. This has to be applied for under Additional Business Guidelines which can be frustrating and confusing to navigate.

Filing of Annual Reports

It is a requirement that construction companies file annual reports each year to renew or maintain their active status. Failure to file reports accurately or on-time for a Corporation or an LLC will result in a penalty of $400 that cannot be waived.

A Specialised In-House Construction Accounting Service

We have an in-house accountant available who offers a free review of your current accounting and tax returns. The purpose is to identify areas where you can save money in taxes. Our team also offers a free QuickBooks class on how to operate and better understand QuickBooks and use it for your business.

Running a business as with a general contractor license is stressful. There are always fires that need to be put out as well as logistical, structural issues, scheduling problems - more than enough to keep you busy. At Contractors Reporting Services in Tampa, FL, we’ve been helping businesses in the construction industry take care of the paperwork along with licensing and approval processes for more than 50 years.

Join hundreds of other satisfied customers by letting us assist with procedures and approval processes for your business. And let us deal with the various government organizations and changing requirements. This will ensure that you’re always up-to-date so that there is no risk of delays or annoying inquiries.

The next post was first seen on 5 Ways to Outsource Your Paperwork as a General Contractor in Florida and is courtesy of Contractors Reporting Services. See more on:} Contractors Reporting Services LLC

The Top 6 Worker’s Compensation Insurance FAQs for General Contractors in Florida

As a general contractor in Florida, you need to understand how worker’s compensation works to ensure that your business and employees are covered. To help general contractors understand the basics, we’ve answered the top 6 questions frequently asked by our clients.

Who needs workers’ compensation coverage?

Workers’ compensation coverage is needed for all construction employers who have one or more employees (including any non-exempt business owners). And, for non-construction employers, four or more employees (which also includes any non-exempt business owners).

Trades that are considered to be in the construction industry can be viewed in Florida’s Administrative Code.

Do I need worker’s compensation insurance if I hire sub-contractors?

Sub-contractors are responsible for their own insurance that will cover workers in the event of a work-related incident. But it is the responsibility of the primary contractors to ensure that the sub-contractor has coverage for its workers. The contractor is responsible for the payment of benefits if a worker is injured without being protected by insurance.

What proof does a contractor need from a sub-contractor to verify insurance coverage?

For a sub-contractor that has a workers’ compensation insurance policy, before beginning a job the contractor must obtain any of the following:

• A copy of the ‘information page’ from the insurance policy
• A screen print from the proof of coverage database confirming that coverage is in effect
• A Certificate of Liability Insurance along with documentation from either the producer or carrier confirming that workers' compensation coverage is valid

For a sub-contractor that is a client company of an employee leasing company, the contractor needs to obtain:

• A Certificate of Liability Insurance
• A list of the employees leased to the subcontractor for the date that the subcontractor commences work for the contractor

For a sub-contractor that has an exemption for the business owner or owners, the contractor needs either:

• A copy of the exemption
• A screen print of the exemption page from the Proof of Coverage database.

What is the Cost of Workers’ Compensation Insurance?

There are 3 factors that influence the cost of insurance: the type of work being performed by employees, the employer’s claims history and the payroll for the business. There are some discounts that may be made available such as a discount for a workplace safety program (2%) and a drug-free workplace program (5%). These programs need to be renewed on an annual basis in order to qualify for the discount.

What is a Worker’s Compensation Exemption?

An exemption can be filed for an officer of a corporation or member of a limited liability company. The purpose is to be excluded from the workers' compensation laws. The office or member will not be classified as an employee and cannot claim workers’ compensation benefits once they have been issued a Certificate of Election to be Exempt.

How Do You Apply for an Exemption?

To apply for, or renew an exemption from workers' compensation law, the applicant needs to complete and submit a Notice of Election to be Exempt application. If the applicant is eligible, this can be done online. It is important to note that the application needs to be personally signed by the applicant attesting that they have reviewed, understood, and acknowledged the information included on the application.  It may be considered a felony of the third degree if anyone other than the applicant signs the application.

If you need help with applying for a workers’ compensation exemption or need some assistance with additional general contracting questions, please get in touch with us. Contractors Reporting Services in Tampa, Florida offers reliable results building on reputation and experience of over 50 years in business. We understand that general contractors have a vast range of paperwork that needs to be done from financial reports, licensing or business services, and we’re confident that we can help you tackle them.

The following info was first published on The Top 6 Worker’s Compensation Insurance FAQs for General Contractors in Florida and is courtesy of Contractors Reporting Services. Find more on:} http://activatemylicense.com

How to Know Whether an LLC or a Corp is the Best Fit for Your Construction Business

There are a number of factors that should be considered when deciding whether to set up your business as a corporate or limited liability company (LLC). This includes the type of work that you do, the number of employees that you have, as well as various tax considerations.

Deciding to formalize the structure of your company as an LLC or corporation has important implications and should only be undertaken when you have a clear understanding of the pros and cons of each. Once you have a general contractor license, and before filing papers, consider getting expert advice to ensure that you make the right decision for your business.

Choosing a Corporation vs. LLC

An LLC (limited liability company) is a hybrid form of partnership that offers many of the advantages of a corporation and a partnership. Profits and losses can be passed through to owners without the business being taxed, and owners are shielded from personal liability.

A corporation can be taxed, held legally liable for its actions and can make a profit. The main benefit of a corporation is the protection from legal liability while two key disadvantages are the costs to incorporate and the extensive paperwork that needs to be filed. An S-corporation (Subchapter corporation) helps avoid double taxation which is a drawback for regular C corporations.

Business Freedom

We find that, for most construction businesses an LLC is the best fit because, while both a corporation and an LLC offer protection for the owner from liability, an LLC offers more freedom in how the business is managed. An example of this is in an LLC’s operating agreement; the company owners can expressly outline the obligations, powers, and rights of the manager and the LLC’s members. These rights, powers, and obligations can also be directly limited if needed.

An LLC also requires fewer formalities than those associated with a corporation. Specifically, annual meetings are not required.

Get Professional Advice and Assistance

If you want to set up an LLC, Contractors Reporting Services in Tampa FL can help. They’ll take out the stress, giving you the space to focus on building your business. Their professional, experienced staff have the expertise you need to get your paperwork handled efficiently. They will help you set up an S-Corporation or an LLC, whichever is the best fit for your needs.

They are also available to assist with ancillary services related to incorporating or setting up an LLC such as:

• Corporation Amendments – if any changes are made to the corporation such as changing officers or directors, they need to be registered and recorded the Secretary of State in Florida. Their team will provide fast, stress-free amendment filing so that you can focus on running your business.
• Annual Reports – annual reports are required to be filed every year in order for a Corporation or LLC to maintain their ‘active status.’ Failure to file annual reports can have serious implications, not least of which is a non-negotiable penalty of $400 for late filing which cannot be waived. Additional reinstatement fees and penalties can mean that costs to get your business on solid footing will exceed $900.
• Annual Minutes – When any changes are made to the structure of the corporation (such as amendments, changes of officers, and stock purchases or sales) the business is required to record them either in special minutes or under the annual minutes of the corporation.

Whether you decide on an LLC or a corporation, provided that they are formed and managed correctly, both will protect the business owner’s personal assets. This means that in the event of a claim or lawsuit filed against the business, only the assets that are owned by the LLC or corporation can be attached. If you have any questions, Contractors Reporting Services would like to be of assistance.

 

The following information was originally published on How to Know Whether an LLC or a Corp is the Best Fit for Your Construction Business and is courtesy of Contractors Reporting Services. Read more on:} Contractors Reporting Services Blog Tampa

The Importance of a General Contractor License in Florida

In order to run a profitable, sustainable business as a licensed general contractor in Florida you need to comply with the relevant regulations for the state. This includes holding the correct permits and licenses. Florida State’s licensing requirements are specific and, depending on the nature of your work; you may need a different license in order to work legally.

Contracting without a license in Florida is a serious offense, and the penalties are severe. For this reason, it’s important to understand who monitors compliance, what the different licenses are, as well as the consequences for non-compliance.

Who Monitors Contractor License Compliance?

In Florida, applying for a contractor license is done with the Construction Industry Licensing Board (CILB) headquartered in Tallahassee with field offices throughout the State. They are responsible for licensing and regulating the construction industry. They meet regularly to consider applications, adjudicate on disciplinary cases as well as conducting licensing and discipline hearings.

Their website offers the functionality to perform a Florida contractor license search which makes it easy for all parties involved in a project to verify that they are working with a contractor who holds a valid general contractors license. It’s an important check as it can help protect an owner from having to double-pay, and also reduces the risk of a subcontractor or supplier not being paid by the general contractor.  The website also allows complaints to be lodged and has a portal for contractor license applications.

What are the Different General Contractor Licenses?

In Florida the law provides for two different license classifications:

• ‘Certified’ – a certified contractor license is valid throughout Florida
• ‘Registered' – a registered contractor license limits the license holder to specific local jurisdictions.

Certified Contractors in Florida

To become a certified contractor in Florida, one must first pass the Florida State Certification Exam. The content covered depends on whether your application is for a Division I or Division II license.

For Division I license (general building and residential contractors), the exam consists of:

• Project management
• Contract administration
• Finance and business

A Division II exam (for trade-specific contractors such as plumbing, pool installations, drywall, and HVAC), there are two sections:

• Business and finance
• Trade knowledge

Registered Florida Contractors

Registered contractors must either have passed the Certification exam or hold a Certificate of Competency (which are issued by the local licensing office). Once this exam is passed one then submits a full application to the CILB in Florida along with:

• Proof of experience (minimum of 4 years or a combination of college and work experience)
• Credit report
• Fingerprints (for background checks)
• Proof of insurance (both public liability and property damage insurance that must be valid when the application is submitted.

What are the Penalties for Non-Compliance?

The State of Florida takes contract work done without a license seriously. For first time offenders, there is provision for up to a year of jail time or probation. Further offenses are considered a third-degree felony with jail time or probation of up to five years. Also, one can be liable for civil penalties of up to $10,000. An unlicensed contractor will also forgo rights as any contracts are unenforceable by law and liens are no longer valid. Also, if your work is found to be faulty or defective, treble damages can be awarded to the owner (and the contractor may have to return any payments made).

Navigating red tape and state bureaucracy can be frustrating, not to mention confusing. The team at Contractors Reporting Services in Tampa have been helping general contractors in Florida apply for licenses and permits for over 50 years. They’re ready to help you get your paperwork in order and assist with keeping your licensing up-to-date as well as ensuring that your permits are all in order. They understand that you need to be able to focus on building your business, without worrying about whether or not you are in compliance with Florida’s Construction Industry Licensing Board.

The following post was originally published on The Importance of a General Contractor License in Florida and is republished from Contractors Reporting Services. See more on:} Contractors Reporting Services LLC

The Importance of Filing Annual Reports with the Secretary of State

There are around 2 million businesses in Florida including many general contractors that are required to file an annual report by May 1^st including LLCs as well as limited and limited liability partnerships in order to continue operating as legal entities that comply with the regulations set by the state.

Basic information needs to be updated annually including the primary business location, the officers’ names, as well as the business agent’s details. It is important to note that the annual report does not include financial information but is rather used to update state records. Regardless of whether or not businesses need to make changes, it is still a legal requirement that the annual report be submitted to maintain their ‘active’ status with the Department of State in Florida.

The cost to file depends on the type of business. If the report is filed by May 1^st, the costs are $150 for-profit corporations, $138.75 for limited liability companies and $500 limited or limited liability partnerships.

There are important implications for general contractors who neglect or forget to file including late fees, company dissolution and potential loss of business.

Late Fees

Regardless of the business entity that a contractor operates under, they are required to file an annual report. The report must be filed by May 1^st otherwise a late fee of $400 applies. Unfortunately, the penalty is automatically applied by the filing system and as such cannot be reduced or waived. A failure to file an annual report can also result in expensive feeds for reinstatement in addition to other penalties that can be more than $900.

Company Dissolution

The state may administratively dissolve the company if it fails to comply with the annual report requirements for a long enough period of time. In Florida, this time is set as the third Friday in September, and dissolution will happen on the following Friday (the fourth Friday of September).

Once this happens, the business may not continue with any of their activities aside from the process of winding up the company. Once a company has been dissolved, an owner’s personal assets are no longer legally protected from business creditors. In effect, this means that owners are personally liable for business debts and judgments.

Loss of Business

Failing to file a company’s annual report will result in forfeiting its ‘good standing’ with the State. This can have a big impact on expansion plans and financing opportunities. In Florida, the Certificate of Good Standing is referred to as a Certificate of Status. If a company is unable to provide the certificate, it serves as an indication that there is something wrong with the company’s standing with the State.

For general contractors, in particular, this can be problematic as it is often a requirement for businesses before they will award a building contract. Lenders may also require a company to be in good standing before it will approve new financing, and the company will be viewed as an increased risk if it is not able to produce the certificate.

At Contractors Reporting Services in Tampa, FL we can help ensure that your general contractor business remains in good standing. We will compile and file an annual report for your business so that you are not exposed to the cost and risks of late filing. Our team will ensure that your annual report is filed correctly and on-time, every time. In addition to filing annual reports, Contractors Reporting Services is also able to offer other business services such as corporation set up, corporation amendments, renewal services, annual minutes as well as business tax registrations and renewals.

The next article was first seen on The Importance of Filing Annual Reports with the Secretary of State and is courtesy of Contractors Reporting Services. Read more on:} http://activatemylicense.com