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Whether replacing a roof, undergoing major concrete restoration, or updating your common areas, understanding construction contracts is essential to secure the best possible outcome for your repair or renovation projects. In this week’s Take It To The Board podcast, host Donna DiMaggio Berger unlocks the secrets to mastering construction contracts with Steven Lesser, Shareholder and Chair of Becker’s national Construction Law and Litigation Practice.
Join Donna and Steve as they dissect essential elements every community association board and management professional must consider, from setting goals and financial risk assessment to navigating complex timeframes. They share expert techniques on risk mitigation, including liability disclaimers and the importance of verifying contractor credentials and demanding insurance coverage, ensuring you’re well-prepared for the intricacies of your next construction project.
Discover the most common mistakes boards make when signing construction contracts and learn how to avoid them. Donna and Steve walk you through real-life cautionary tales of unlicensed contractors and highlight the necessity of thorough contracts to ward off potential legal and financial pitfalls. With insights into Chapter 558 of Florida law and similar statutes, they empower you with the knowledge to handle the right-to-cure process before escalating to legal action.
From the importance of due diligence to the nuances of termination provisions, this episode covers it all. Learn how to effectively manage the scope of work, payment schedules, and insurance limits to prevent costly errors. Steven’s wisdom extends to dispute resolution strategies, weighing the benefits of arbitration, mediation, and litigation. Whether you’re a seasoned professional or a newcomer to the field, this conversation equips you with invaluable tips to navigate and triumph in the world of construction projects.
Conversation Highlights Include:
- Common issues boards overlook during the initial due diligence phase of large construction projects
- Problems that can arise when the scope of work is ambiguous
- “Change orders” and why they are a common source of disputes in construction contracts
- How boards can protect themselves from excessive or unjustified change orders
- Risks surrounding payment terms and payment schedules in construction contracts
- The importance of timelines, payment and performance bonds and having an effective Owner’s Representative
- Warranties and guarantees boards should require in their construction contracts
- Effective dispute resolution mechanisms
BONUS: Learn the #1 mistake boards can easily avoid when signing construction contracts
Related Links:
- Podcast: Everything You Need to Know About Concrete Restoration Projects with Alessandra Bianchini, of Carousel Development and Restoration Inc.
- Article: Becker Named a Top 25 Construction Law Firm by Construction Executive Magazine 2024
- Online Class: Condo Construction Defects 101
About Take It To The Board
Think you know what community association life is all about? Think again. Residents must obey the rules, directors must follow the law, and managers must keep it all running smoothly. Take It To The Board explores the reality of life in a condominium, cooperative or homeowners’ association, what’s really involved in serving on its board, and how to maintain that ever-so-delicate balance of being legally compliant and community spirited. Leading community association attorney Donna DiMaggio Berger acknowledges the balancing act without losing her sense of humor as she talks with a variety of association leaders, experts, and vendors about the challenges and benefits of the community association lifestyle.
If you’ve got a question, Take It To The Board with Donna DiMaggio Berger – We Speak Condo & HOA!
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