The Rabbet Blog

Check out the latest and greatest from the team at Rabbet.

Rabbet/AvidXchange Announcement

Rabbet Announces Partnership with AvidXchange to Enhance the Invoice Management Process for Real Estate Development Teams

Rabbet, the leading provider of real estate development management software, today announced a partnership with AvidXchange, the leading provider of accounts payable (AP) and payment automation solutions for the middle market to enhance the invoice management process for real estate development teams.

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The Complete Guide to Unconditional Lien Waiver and Release Forms

An unconditional release differs from a conditional release because the moment you sign the document, you’ve immediately given up your rights to file a mechanics lien or you’re obligated to... Read More

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The Basics of Lien Waivers

Complicated and multi-faceted endeavors with a large number of involved parties, construction projects encompass a broad range of potentially risky points that can result in grave financial consequences if the... Read More

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The Basics of Retainage

What is Retainage? Retainage is the withholding of a portion of the funds that are due to a contractor or subcontractor until the construction project is finished. It is meant... Read More

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Slow Payments to Cost the Construction Industry $136B in 2021

General contractors and subcontractors estimate that the cost of floating payments for wages and invoices represents $136 billion in excess cost to the industry, a 36 percent increase from the cost reported in 2020. Findings indicate those costs are passed on to real estate developers and financiers in the form of project delays and higher bids from contractors. 

Rabbet AvidXchange Partnership

Rabbet Customers Can Now Send Invoices Data Directly to AvidXchange

Rabbet customers who add the Send to AvidXchange feature can now easily send coded invoices directly to AvidXchange for invoice processing, payment, and posting to accounting systems.

best practices for change orders

9 Best Practices for Managing Change Orders as a Real Estate Developer

When planning the project, you predict uncertainty by including a contingency. The change order is the process of transforming this uncertainty into a certainty.

9 Best Practices for Managing Change Orders as a Real Estate Developer

Project Forecasting

Knowing capital needs on a construction project is critical to ensure proper cash reserves and interest reserves. Rabbet users can forecast what funding sources are going to be drawn during which months on the project then ensure sufficient interest reserves remain available.

The excel paradox

The Excel Paradox

Rabbet’s 2021 State of Construction Finance Report revealed that most lenders and developers are using spreadsheets to carry out major parts of their process, but complain about its inefficiency.

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2021 CONSTRUCTION FINANCE TRENDS

The 2021 State of Construction Finance Report dives deep into how processes and perceptions of construction finance have changed as well as what these processes could look like in the future.

Construction Lender Efficiency Tip #9 – Give your Team Access to Portfolio Data That Was Previously Unreachable

Construction Lender Efficiency Tip #9 – Give your Team Access to Portfolio Data That Was Previously Unreachable

Many lenders rely on analysts and excel reports to get updates on project status. While that solution works for some things it is difficult to quickly assess portfolio risk when... Read More

Construction Lender Efficiency Tip #6 – Automate Pay App Reconciliation and Retainage Calculations

Construction Lender Efficiency Tip #6 – Automate Pay App Reconciliation and Retainage Calculations

Ahh, good ol’ pay apps. After manually comparing the G702 and G703 there’s a good chance the figures don’t match up or the retainage for the current period is missing.... Read More

Construction Lender Efficiency Tip #10 – Streamline Approval Processes and Offer 24/7 Visibility into Approval Status

Construction Lender Efficiency Tip #10 – Streamline Approval Processes and Offer 24/7 Visibility into Approval Status

Imagine this scenario: You’re almost there. You’ve reconciled ‘amount requested’, compared documents, triple-checked line items, and made sure all lien waivers were properly classified. You even ran through your list... Read More