Date Published: March 4, 2021
Original Source: CTV News Toronto
A couple with two young children in East York wanted to expand their one-storey bungalow. After signing a contract in January of 2020 and giving their contractor a $70,000 deposit, work was supposed to start immediately, or so the couple thought. Seven months later, a crew showed up to do some demolition work and that's when the couple was asked to pay another $70,000 for materials.
As of September 2020, the couple says their contractor stopped responding to their calls. To make matters worse, the contractor had changed his company's name, failed to obtain the proper permits, and never paid the subcontractor for the demolition done the month before. These all became additional costs incurred by the family.
After consulting a lawyer and going after the contractor, the contractor now claims the couple owes him more money. As of 2021, the family has paid $151,000 to this contractor and will need to find someone else to finish their renovation.
This story has shown us the importance of written contracts, documentation, and never giving a deposit directly to a contractor. With Renovation Trust homeowners never give a hefty deposit or pre-payment directly to a contractor and only pay their contractor as work is completed. Along with protecting your money, we store any important documents, photos, permits, warranties and guarantees. Our built-in change order system allows you to keep track of any changes on a project for better communication and to avoid misunderstandings.