Having a money figure is always a great working tool. It helps with:
- Selection of finishes and scope of work.
- Provides a real understanding of prices and costs.
- Allows for modifications that are realistic in cost.
- Provides an understanding of what is a fixed cost versus a variable cost.
- Keeps all parties accountable and on the same page.
Knowing what the purpose of the renovation is can affect many aspects of the project. It helps with:
- Determining a cost effective budget.
- Gives guidance on suitable materials.
- Knowing future renovation plans allows for better planning and fund allocation.
- Gauge scope of work through plans, site visits, and client meetings.
- Determine the nature and caliber of work.
- Establish preliminary budget/costs and present to client.
- Enter into a contract with client.
- Finalize the working budget and schedule.
- Begin coordination/scheduling of permits, trades, materials, etc.
- Begin Construction and Project Management.
- Submit monthly invoices and budget updates.
- Complete construction and obtain all approvals.
- Final clean up, walk through and inspections are performed.
- Hand over Owners handbook to client.
At KHC we have established working relationships with numerous suppliers and trades in the construction industry, and as a result, we purchase material and services at a discounted rate. These discounted rates are then passed onto our clients.
KHC charges a project management fee which is based on the overall scope of work. Our fee is typically lower than the discounts that our clients receive, which results in our clients receiving KHC's project management services at little or no additional net costs.
Our payment process works as follows:
- We submit monthly invoices which include copies of all receipts from trades and suppliers for all material and labour purchased by KHC.
- These monthly invoices are the only monthly payments our clients must make. This results in easy tracking and management of funds and expenses.
- At KHC we do not collect money up front. Only payments required are the monthly invoices submitted.