Check out the latest and greatest from the team at Rabbet.
Rabbet was built to ensure proper centralization of your information, to drive project insights, and ensure stakeholder confidence.
With the ability to effectively centralize and compare the budget, contracts and costs, a developer can prevent future issues on a development project.
In this series, we delve into the compelling reasons why meticulous budget tracking is the cornerstone of prosperous real estate development projects.
Rabbet, the leading provider of construction finance software, today launched its cutting-edge generative AI feature, Rabbet Vantage. Applying Rabbet's conversational query experience to the wealth of construction finance data tracked... Read More
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
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
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.
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.
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.
When planning the project, you predict uncertainty by including a contingency. The change order is the process of transforming this uncertainty into a certainty.
