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Category: Construction Draw Process

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Why Rabbet Integrates with AP and Accounting Systems

Why is Rabbet building integrations with every major accounting software? Development management and accounting are distinct and important activities for any real estate developer. Like drywall and paint, both are... 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.

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.

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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.

2020 State of Construction Finance

2020 State of Construction Finance

Each year Rabbet surveys commercial real estate lenders and developers to uncover the latest industry trends in CRE. In 2019’s report, we revealed a huge shift towards automation and uncovered... Read More

NY Lien Law

New York Lien Law: How to Simplify Your Construction Finance Tracking

Developing commercial real estate in New York is anything but simple. And if you’re having trouble streamlining your construction finance processes, then you’re not alone. Because the state requires you... Read More

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How Construction Loan Software Fast Tracks the Construction Draw Process

Contract Simply is now Rabbet. We’re the same company – just with a new name – building the only intelligent construction finance platform. The content of this post has been... Read More