Strata Management Licensing Practice Exam · Question
When engaging a contractor for significant common property repairs, what is a crucial step a strata corporation should take?
Before hiring, it is crucial for a strata corporation to verify a contractor's licensing, insurance, bonding, and check references. This mitigates risks associa
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Question: When engaging a contractor for significant common property repairs, what is a crucial step a strata corporation should take?
Answer options:
- Select the contractor with the lowest bid without further inquiry ✅ Ensure the contractor has appropriate licensing, insurance, and references
- Allow individual owners to negotiate their own terms with the contractor
- Pay the full amount upfront to secure the contractor's services
Correct answer: Ensure the contractor has appropriate licensing, insurance, and references
Explanation: Before hiring, it is crucial for a strata corporation to verify a contractor's licensing, insurance, bonding, and check references. This mitigates risks associated with quality of work, liability, and ensures compliance with statutory requirements.
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