CT August 2026

APPLES TO APPLES... from page 22.

apples—and that’s where problems begin. Contract Details That Matter More Than You Think Price is only one piece of the puz zle. Contracts often hide meaningful differences in the fine print that can

impact timing, cash flow, and final cost. A thorough review—30 minutes can make all the difference; The con tract should always include: • PAYMENT TERMS Does the contractor require payment every 15 days or every 30? Can the association realistically meet that schedule, especially if board signa tures are required? • RETAINAGE Retainage is the portion of payment withheld until the project and punch list are complete. While 10% is com mon, some contracts reduce that once a project reaches 50% or 75% com pletion. Knowing this upfront helps manage leverage and expectations. • WARRANTIES A materials warranty without a workmanship warranty leaves a gap. Both should be clearly stated—and comparable across bids. • INSURANCE REQUIREMENTS Confirm that liability, workers’ com pensation, and any bonding require ments meet the association’s standards. • START AND COMPLETION DATES Vague timelines can signal future delays. Specific dates (or defined dur ations) help protect the association. These elements don’t always change the bid total—but they abso lutely affect value. The cheapest bid can become the most expensive decision when con tracts aren’t truly compared apples to apples. When the Lowest Bid Isn’t the Best Bid Everyone loves a discount. There’s a certain satisfaction in thinking you

roofing materials—and the removal of the existing roof? If the answer to any of these questions isn’t clearly “yes,” then you’re not comparing apples to

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AUGUST 2026