-
Oct 4, 2024 | 
rabbet.com | Nicole Kelly
In today’s ever-changing economic landscape, managing a construction portfolio is more complex than ever. With rising costs, shrinking labor availability, and stricter loan requirements, real estate developers need clear, accurate financial oversight and transparent communication with equity partners. Many construction leaders are turning to real estate development software for its ability to provide real-time access, improve accuracy, and increase transparency across portfolios.
-
Oct 2, 2024 | 
rabbet.com | Nicole Kelly
In 2024, the U.S. construction industry reached a new milestone: $280 billion in costs directly tied to slow payments. This alarming figure doesn’t just represent wasted money; it reveals a systemic issue that threatens project timelines, increases risks, and weakens relationships between contractors, developers, and lenders.
-
Oct 1, 2024 | 
rabbet.com | Nicole Kelly
Austin, TX – [October 1, 2024} – Rabbet, the leading provider of construction finance software, today released its much-anticipated 2024 Construction Payments Report, highlighting critical insights into the financial and operational challenges facing the U.S. construction industry. This year’s report highlights that slow payments have cost the construction sector a staggering $280 billion in 2024, leading to increased costs and strained business operations across the industry.
-
Sep 27, 2024 | 
rabbet.com | Nicole Kelly
Understanding and accounting for the tax laws for a real estate development project is critical. This guide gives an overview of the three main types of sales taxes relevant to commercial real estate developers with projects in Canada and how to track these taxes in your project budget. In Canada, there are three main types of sales taxes: the Harmonized Sales Tax (HST), the Provincial Sales Tax (PST), and the Goods and Services Tax (GST).
-
Sep 26, 2024 | 
rabbet.com | Nicole Kelly
In the realm of real estate development, financing is the cornerstone that determines if a project will pencil. Among the myriad financing options available, HUD financing stands out with its unique approach in fostering affordable housing projects. This specialized financing route, governed by the U.S. Department of Housing and Urban Development (HUD), is often compared to traditional commercial real estate financing.
-
Sep 24, 2024 | 
rabbet.com | Nicole Kelly
The construction lending landscape is evolving rapidly, and with that evolution comes new pressures: audits, regulatory scrutiny, and rising expectations from shareholders. In this environment, relying on manual processes to manage construction loans isn’t just inefficient—it’s risky. Outdated workflows based on unstructured PDFs, spreadsheets, and email chains create bottlenecks, increase the likelihood of errors, and put institutions at risk of non-compliance.
-
Sep 23, 2024 | 
rabbet.com | Nicole Kelly
In real estate development, managing project finances efficiently is critical—whether it’s a $10 million or a $100 million project. However, one common pain point that almost every team encounters is gaining access to accurate, real-time financial data. In fact, 60% of developers report that understanding project financials in real time is their biggest challenge. Why Do Real Estate Development Teams Struggle With Financial Visibility? The root of the problem? Lack of departmental alignment.
-
Sep 20, 2024 | 
rabbet.com | Nicole Kelly
What is a Lien Waiver? A lien waiver in the construction industry is a legal document that’s exchanged between parties involved in a development project. Contractors, vendors, and developers sign lien waivers to agree that no one will place a lien against the property. Lien waivers serve as proof that payment has been received, all parties are satisfied with their pay, and no one will dispute their payment.
-
Sep 19, 2024 | 
rabbet.com | Nicole Kelly
Overcoming Affordable Housing Financing ChallengesAcross the United States, there is a need for for extremely low-income families. Renters in all demographics face rising costs, with Even Americans who make an average living find that home affordability is the worst it’s been in 17 years. It’s clear that the housing crisis has reached astronomical heights, but with so much red tape surrounding affordable housing projects, what can developers do to ease the burden? What Is Affordable Housing?
-
Sep 12, 2024 | 
rabbet.com | Nicole Kelly
TL;DR:Retainage is the withholding of funds until a construction project is completed. It serves as a financial incentive for contractors to finish the project satisfactorily. Retainage is a controversial topic in construction loans but remains an effective insurance policy for project completion. It can cause cash flow problems and disputes, but these can be prevented with clear contractual terms and effective processes.
