“Trust is the number one factor,” he adds. “If a contractor commits to being on site and they don’t show up for two months because they have too many jobs go on, that can turn a project over. It can make the feasibility of a project go from feasible to not feasible. So it’s really important that we have trust – that we have trust in terms of the cost, the quality, and the time. Trust is really critical for us.” Again, fortunately, Tibro Properties has been able to form some trusted relationships with some key contracting partners. Most of those trusted partners bring a lot of experience to the table, and Tibro tends to match them to projects where they can best put their specific experience to use. “We focus on finding the right fit,” Savan says. “If we’re building a seven-storey apartment, we’ll look for a contractor with expertise in apartment building or hotel building. If we’re building stacked townhomes, we’ll look for somebody who has a lot of experience with lowrise. That way, they know the specific fire code requirements. They know the right trades to source from. They know what to look out for and where problems might come up.” Over the last couple years, Sarit reiterates that they have learned a lot about working with subcontractors. In particular, he says, they have learned the importance of being clear and transparent. “We are very descriptive and we put a lot of effort into discussing the terms of the contract ahead of time,” he explains. “Everything from payment terms, to deposits, to what qualifies as completed work. We make sure we’re very clear about what we expect, and we tell them to be very clear about what they can deliver. We make sure we’re all on the same page.” “We have learned that clarity is the most important thing when it comes to building a strong relationship.” THE CONSTRUCTION SOURCE CANADA
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