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New to House Rennovation
alright
Posts: 17 Forumite
Hi I was wondering if I could please get some advise before my husband and I begin a renovation project with my brother.
My husband was made redundant about 20 months ago as a Pharmacist and spent a year looking for a job. It was difficult to get a permanent job so he decided to learn trade. He went on various training courses (Gas Engineer, Plastering, Tiling and now has started plumbing).
We recently received money from my late mother's estate and will like to go into partnership with my brother to renovate a property which was left to us (my brother and I). We have agreed that it will be more efficient if my husband project manages the renovation and does some of the work himself. This will mean that he will not be able to take on other jobs. We were planning to sell the property afterwards and split this 50, 50.
I spoke to a friend who is a Business Analyst and was told that this may not be fair to my husband as he will be spending at least 3 to 4 days in the week onsite and will be managing the site. I agree that during this renovation we will not be earning additional income. We have two children (5 and 4 years old) and I work as a full time Teacher. Do you think that it is fair for my husband to be paid at least 'mates rates'? If so, can anyone please advise me as to how much or how we should calculate this?
Thank you
My husband was made redundant about 20 months ago as a Pharmacist and spent a year looking for a job. It was difficult to get a permanent job so he decided to learn trade. He went on various training courses (Gas Engineer, Plastering, Tiling and now has started plumbing).
We recently received money from my late mother's estate and will like to go into partnership with my brother to renovate a property which was left to us (my brother and I). We have agreed that it will be more efficient if my husband project manages the renovation and does some of the work himself. This will mean that he will not be able to take on other jobs. We were planning to sell the property afterwards and split this 50, 50.
I spoke to a friend who is a Business Analyst and was told that this may not be fair to my husband as he will be spending at least 3 to 4 days in the week onsite and will be managing the site. I agree that during this renovation we will not be earning additional income. We have two children (5 and 4 years old) and I work as a full time Teacher. Do you think that it is fair for my husband to be paid at least 'mates rates'? If so, can anyone please advise me as to how much or how we should calculate this?
Thank you
Working hard to be money and people wise
0
Comments
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obviously it is an unfair split since if your husband was not doing the project management you and your brother would have to pay someone else to do it and that extra cost would be split 50/50 between you.
yes you brother will feel that "you" are getting a bigger share than he is if you and your brother pay your husband but that is the only fair way to proceed.
sorry can't help on rates of pay.0 -
If your brother thinks it is fair for your husband to work virtually full time on the project and not be compensated for this then you should not even consider going into business with him.
If you still decide to, then get a proper legal contract drawn up otherwise this will end in tears.0 -
It is only fair that your husband is paid.
Rates for trades seem to range from around £120 per day (plasterers etc), brickies, etc up to £200 gas-fitters, plumbers etc.
Not sure about project managers, presumably more.
Hopefully he has done a course in the CDM 2015 regulations!....
http://www.hse.gov.uk/pubns/indg411.htm0
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