Progress Payment Schedules
Kitchen, Hanson Ma
Many years ago thru an educational training for contractors we were introduced to the system of using a Progress Payment Schedule (or Milestone Payments) instead of the more commonly know 1/3, 1/3 and 1/3 method. So for almost the last 30 years on 90% of our projects that is how Almar has built our payment schedules.
At first the idea of seeing something out of “the norm” (or what they think they should be seeing) for contractors throws some clients off, but once a client understands the system we rarely have a client complain.
So what is the Progress Payment Schedule? Basic is breaks down the cost of the entire remodeling projects into small chunks. Enough so that we can cover the expenses that are coming up: bills, deposits, special orders…but never so much that we are too far ahead of a client and vise versa. On smaller project we often still utilize the 1/3 method – only when it make sense for both parties.
Too often we hear the stories from people that “they took a huge deposit and we never heard from them again”. My hope is that is utilizing the Progress Payment Schedule it gives our clients another layer of comfort when moving forward with their project.
Here is an example of what you might see as one of our Progress Payment Schedules:
| Payment: | When Due: | Amount: |
| Initial Payment | Contract is signed | $XYZ.00 |
| Building Permit Costs | TBA | |
| Start of Deck work | $ XYZ.00 | |
| Start of Door work | $ XYZ.00 | |
| When Siding is Delivered | $ XYZ.00 | |
| When Siding is half installed | $ XYZ.00 | |
| Final Payment | When work is completed | $ XYZ.00 |
Our family has been working with families like yours for 56 years. And it is important to use that everyone works together to create the best possible remodeling experience. We never want to see someone regret the choice they made because they didn’t have all of their options. If you have questions about your home improvement project or would like more information on decking Contact Almar: https://www.almarbuilding.com (781-826-2577) and watch our videos: http://www.youtube.com/almarbuilding
************************************************************************
Almar Building & Remodeling Co (Hanover Ma). As a third generation family owned and operated company for over 50 years Almar Building has all the benefits of a small company with the options of a larger company. From Additions, Kitchens, Bathroom, Basement Renovations, Siding, Windows
, to Doors Almar services the entire South Shore of Massachusetts including: Hanover, Hingham, Pembroke, Norwell, Scituate, Cohasset, Duxbury, Hanson, Abington, Rockland, Holbrook, Braintree, Weymouth, Milton, and many more towns. “Progress Payment Schedules”
