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Author: Nicole Kelly

Reduce Risk, Delays, and Budget Overruns on a Commercial Real Estate Project

Reduce Risk, Delays, and Budget Overruns on a Commercial Real Estate Project

Commercial real estate development projects can be complex and involve many stakeholders and processes, which can lead to risk, delays, and budget overruns. Here are some steps you can take... Read More

Why is Rabbet the Best Software for Construction Finance Management?

Why is Rabbet the Best Software for Construction Finance Management?

Rabbet is a cloud-based construction finance platform that is designed to streamline the construction finance process, enabling real estate developers, lenders, and contractors to manage their construction projects more efficiently... Read More

How to Build your Next Development Project with Confidence

How to Build your Next Development Project with Confidence

Building a commercial real estate development project with confidence involves careful planning and execution. Of course, a commercial real estate developer must rely on accurate and reliable data to get... Read More

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Berkadia Doubles FHA Financing Servicing Capacity by Partnering with Rabbet

Rabbet, the leading provider of construction finance software announced today that it has partnered with Berkadia, the top FHA construction loan servicer, to double servicing capacity. Berkadia’s adoption of Rabbet’s... Read More

2022 Construction Payments Report Takeaways

2022 Construction Payments Report Takeaways

Rabbet - the leading provider of construction finance software for commercial real estate developers, development service providers, construction lenders, and lender service providers, released the 2022 Construction Payments Report, with... Read More

REPORT: THE $208B COST OF SLOW PAYMENTS TO THE CONSTRUCTION INDUSTRY

REPORT: THE $208B COST OF SLOW PAYMENTS TO THE CONSTRUCTION INDUSTRY

Timely payments to general contractors and subcontractors reduce project risk, added costs, and delays. Rabbet’s 2022 Construction Payments Report dives into what happens when those payments don’t arrive on time... Read More

contingency usage

The Basics of Contingency on Construction Projects

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.

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2021 Construction Payments Report Highlights

To finance slow payments, the estimated overhead included in subcontractors’ bids is 2.75% and 5.81% for general contractors. This year’s report uncovered that slow payments to subcontractors and general contractors will create $136B in additional costs for the US Construction Industry in 2021.

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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.