With so many new launch projects being completed in 2023, interior design firms are already braced for a deluge of projects.
For new launches, for example, your handover documents may specify that you're waiving the defects-free period, if you begin renovations before reporting any issues. Once you've already paid for the majority of the renovation, there's little incentive for the contractor to fix issues timely , if they have other timelines to meet.Ceiling and walls painted
This means if something happens partway through, you cannot just stop paying — your credit company has already paid the full amount, and you need to pay them back. Renovation-related delays affect landlords the most. If the tenant can't move in because renovations are delayed, you may need to make up for it by discounting the rent, getting the tenant another room to stay, etc.One common trait among these "unofficial" contractors is the lack of licensing and insurance.
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