Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Renovation - how much to retain for snagging?

Options
  • 22-07-2014 10:36am
    #1
    sarkozy
    Registered Users Posts: 1,476 ✭✭✭


    We're coming to the end of our renovation. What is typical percentage to hold on to until after the job is finished and snagging done?

    The builder says 2%, I'm more thinking somewhere between 5-10%.


Comments

  • Options
    #2
    4Sticks
    Registered Users Posts: 1,155 ✭✭✭4Sticks


    0% if not agreed at the beginning.


  • Options
    #3
    kkelliher
    Moderators, Home & Garden Moderators Posts: 1,583 Mod ✭✭✭✭kkelliher


    sarkozy wrote: »
    We're coming to the end of our renovation. What is typical percentage to hold on to until after the job is finished and snagging done?

    The builder says 2%, I'm more thinking somewhere between 5-10%.

    what was included in the contract. Generally if you agree a 5% retention for the project you reduce it to 2.5% at practical completion and hold the 2.5% until all snagging is completed and signed off


  • Options
    #4
    Victor
    Registered Users Posts: 78,290 ✭✭✭✭Victor


    There is a table of recommended percentages, but I don't have a copy.

    What is the contract value?


  • Options
    #5
    sarkozy
    Registered Users Posts: 1,476 ✭✭✭sarkozy


    With variations since agreement, the 40k mark.


  • Options
    #6
    Drift
    Closed Accounts Posts: 1,395 ✭✭✭Drift


    On most of our projects (using GCCC) the retention amounts are as follows:

    Under 200k - 10%
    Between 200k and 3m - Sliding scale 10% - 3%
    Over 3m - 3%

    BUT half of the retention is paid at substantial completion. So the effective retention for the defects period varies between 5% and 1.5%

    P.S. I'm not sure if these amounts are only guideline or if they are mandatory on GCCC and I have no idea what the guideline RIAI retention amounts are.


  • Advertisement
  • Options
    #7
    RITwing
    Banned (with Prison Access) Posts: 246 ✭✭RITwing


    sarkozy wrote: »
    We're coming to the end of our renovation. What is typical percentage to hold on to until after the job is finished and snagging done?

    The builder says 2%, I'm more thinking somewhere between 5-10%.

    What is in your contract ? What did you agree to in writing.


  • Options
    #8
    kkelliher
    Moderators, Home & Garden Moderators Posts: 1,583 Mod ✭✭✭✭kkelliher


    RITwing wrote: »
    What is in your contract ? What did you agree to in writing.

    does not have to be in writing but it always helps your case..........


  • Options
    #9
    4Sticks
    Registered Users Posts: 1,155 ✭✭✭4Sticks


    sarkozy wrote: »
    We're coming to the end of our renovation.

    The builder says 2%, I'm more thinking somewhere between 5-10%.

    Kinda late in the day - no ? the contractor was entitled to know your "thoughts" at tender.

    And what period of retention are you considering?


  • Options
    #10
    galwaytt
    Registered Users Posts: 12,761 ✭✭✭✭galwaytt


    kkelliher wrote: »
    does not have to be in writing but it always helps your case..........

    if it's not in the contract (writing) then there is no retention.

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



  • Options
    #11
    kkelliher
    Moderators, Home & Garden Moderators Posts: 1,583 Mod ✭✭✭✭kkelliher


    galwaytt wrote: »
    if it's not in the contract (writing) then there is no retention.

    not correct. many contracts are verbal and are a collation of documents, emails and understandings. i would go so far as to say that most domestic projects in ireland dont have a written contract and yet are completed without issue. i must point out that i believe you should have a contract on every job as its the only clear manner of record.


  • Advertisement
  • Options
    #12
    fash
    Registered Users Posts: 2,271 ✭✭✭fash


    Agreed: no written contract stating retention, no retention.
    Thus presuming this is the case, I'd take the contractor's 2% and be happy...


  • Options
    #13
    4Sticks
    Registered Users Posts: 1,155 ✭✭✭4Sticks


    What would you be advising the contractor if he was your client kk?


  • Options
    #14
    4Sticks
    Registered Users Posts: 1,155 ✭✭✭4Sticks


    kkelliher wrote: »
    not correct. many contracts are verbal and are a collation of documents, emails and understandings.

    The OP must not have anything in his/her collation so or s/he would not be posting here. The OP cannot simply impose a condition now that cannot be demonstrated as understood at the start.


  • Options
    #15
    4Sticks
    Registered Users Posts: 1,155 ✭✭✭4Sticks


    Furthermore if even one progress payment has been made so far and it is not accompanied with a statement indicating a retention deduction then that would present as evidence that the employer has accepted there is 0% retention. It is the standard to practice to deduct retentions all along and return half of all retentions at completion. If the OP cannot demonstrate that this is/has been happening s/he is on shaky ground you can't "spring" retention at the end.


  • Options
    #16
    galwaytt
    Registered Users Posts: 12,761 ✭✭✭✭galwaytt


    kkelliher wrote: »
    not correct. many contracts are verbal and are a collation of documents, emails and understandings. i would go so far as to say that most domestic projects in ireland dont have a written contract and yet are completed without issue. i must point out that i believe you should have a contract on every job as its the only clear manner of record.

    agreed. What I wrote is on the assumption that it wasn't agreed in any form, which is what OP is telling us.

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



  • Options
    #17
    kkelliher
    Moderators, Home & Garden Moderators Posts: 1,583 Mod ✭✭✭✭kkelliher


    4Sticks wrote: »
    The OP must not have anything in his/her collation so or s/he would not be posting here. The OP cannot simply impose a condition now that cannot be demonstrated as understood at the start.

    completely agreed but my point was the general rule that it does not have to be a written contract. retention could be mentioned in an initial tender letter for example and this would therefore be implied but not actually part of an actual contract or it could have being agreed pre start at a meeting.


  • Options
    #18
    kkelliher
    Moderators, Home & Garden Moderators Posts: 1,583 Mod ✭✭✭✭kkelliher


    4Sticks wrote: »
    What would you be advising the contractor if he was your client kk?

    based on the fact there appears to be no agreement (given OP has not stated it was ever discussed) I would advise him that no retention shoul be held.


Advertisement