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Canadian real estate development projects are subject to complex tax requirements, including GST/HST and PST, with certain exemptions for things like undeveloped land and low-income housing projects. Tracking these taxes requires careful record-keeping and specialized software like Rabbet, which can automatically calculate tax rates, track exempt status, and ensure compliance across project budgets and accounting systems.

A draw request is a borrower's request for funds that requires submitting a comprehensive package of documents. These packages can contain hundreds of documents that need careful review and approval, which is tasked to construction loan administrators.

Construction projects require contingency funds to cover unexpected expenses like weather delays, cost overruns, and design errors, making it a crucial component of project risk management. Tracking contingency usage and understanding why it's being used helps developers manage current projects more effectively and better plan for future ones.

A lien waiver is a legal document in construction projects where contractors and vendors agree they won't place a lien against a property after receiving payment. These documents must be filled out precisely with specific information, which is why many use construction finance software to simplify the process.

Retainage is a long-standing construction practice where a percentage of payment is held back from contractors until project completion, serving as both insurance and motivation for proper completion. While some view it as a burden that can cause cash flow issues, others think retainage has proven to be the most effective tool for ensuring construction projects are finished satisfactorily.

Construction projects often require buying and storing materials in advance, which creates a complex relationship between lenders who want to protect their investments and borrowers who want to save money through bulk purchases. The successful management of stored materials requires finding a balance between the lender's security measures and the borrower's need for flexible, cost-effective construction operations.

A lien waiver is a formal, legally binding document that serves as a receipt of payment. Here's how to manage lien waivers in a construction project.

Most real estate project owners aren’t strangers to budget busts. See how Rabbet eliminates the stress of budgeting and reduces cost overruns by 87%

Tired of manual tasks like data entry slowing you down? Here’s how Rabbet automates 81% of manual construction project management tasks.