Different Ways to Protect Lien Rights: In-House vs. Outsourcing
Lien policies are an essential part of the construction industry. Liens are a great way to ensure that contractors and subcontractors get paid for projects and that no one is hemorrhaging money on projects where people aren't bothering to settle the bills. Creating and sticking to a solid lien policy is difficult, even for the most diligent contractors. Fortunately, you don't have to handle it alone.
If you are trying to protect lien rights, you will want to make sure that you're doing it in the best way possible. That may include outsourcing to a third-party provider who understands construction liens, policies, and other details. Not sure which is best? Here are some tips to help you decide.
Lien Rights are Technical
The details involved in lien policy are complex and technical. They require people who
have experience in the industry and know how to proceed with different paperwork and
documentation to create liens, lien waivers, and other forms. Some states even have
requirements for fonts and letter sizing that can impact whether a lien is considered
legally binding‐that can be a lot to keep up with.
Instead, you can choose to outsource to a third party to protect your lien rights. They will help you better understand the guidelines and policies involved and their expertise will take care of all the technical details that you might not be familiar with.
Your Team is Busy
In-house matters always seem a little more collected and cohesive, but that's not
necessarily the case. Especially if you have a busy team already, outsourcing may be a
much better choice. Your people have a lot to handle. You don't need them tied up in
legalities and trying to figure out all the fine print of liens when they could be handling
other matters. This is another great reason to consider outsourcing.
Outsourcing is Cost-Effective
In addition to everything else, you don't need to spend more money than necessary on
managing lien rights and handling other aspects of lien policy. Hiring people in-house
could create huge overhead expenses beyond just their salary and onboarding costs,
which add up quickly. Outsourcing can allow you to connect with educated, experienced
professionals at a fraction of the cost. This means that not only will you get better
solutions, but you'll get them at a much better cost, too.
Imagine having to spend a fortune on hiring people to handle liens, and then still ending up paying fines and fees because someone dropped the ball or a lack of experience caused an issue. You can avoid this by outsourcing to experts and saving the hassle and money in the first place.
The Bottom Line
Not everyone is an expert at construction liens and other technical project matters.
That's okay because they don't have to be. There are services out there to help every
business operate more effectively and follow the necessary laws regarding liens, and
you should take advantage of them. For a quality partnership, you can rely on for lien
rights protection, contact Nationwide Notice, Inc. It's important to save money, but it's
also important to make smart decisions regarding the security and credit of your
Working with Nationwide Notice, Inc. will give you extra peace of mind in your construction projects. The experienced staff at Nationwide Notice, Inc. is here to assist you in protecting your lien rights and aiding you with your receivables by tracking and submitting your state's required legal documents. We strive to work with your contractors and subcontractors, no matter the size of the construction company, to ensure payment by utilizing existing lien laws as leverage to make sure you get your receivables. Check out this page to see what makes us different, or check out our main website here.