Payment Practices: How to Establish a Fair and Transparent Payment Schedule

[Monggi]

Hello experienced renovators! Money talks can get awkward. What's your advice on establishing a fair and transparent payment schedule with contractors? Any best practices to ensure both parties are on the same page?

[byangskieee]

Establishing a fair payment schedule involves transparency, clear terms, requesting deposits, breaking payments into stages, offering flexible payment options, setting rules for late payments, incentivizing early payments, and regularly reviewing and adjusting the system for fairness and effectiveness. This fosters trust and positive client relationships. 😊😊