Home Warranty News

 In Finance, Home Warranty Insurance, Operations

LATEST HOME WARRANTY INDUSTRY NEWS

Recent changes to Home Warranty industry means there are no longer any Home Warranty brokers between Newcastle and the QLD Border

What another massive shakeup to the construction industry.

The current Home Warranty brokers list has been more than halved.
If you are located between Newcastle and the QLD border this means that you need to consider who you will use for any home warranty reviews and/or increases.

Check out the information, tips and advice below.

Insurance Isn’t Just Forms & Bills

It is crucial that there is a game plan in place when it comes to your Home Warranty Insurance. You need to ask yourself:

  • Do you want to grow?
  • Do you want to save tax?
  • Do you want to increase your revenue?
  • Are you looking to downsize?
  • Do you want to do bigger jobs?
  • How do you do all this without hurting yourself with a huge tax bill or having to inject large sums of cash into the business?

Why it is Important to Have a Strategy – How You Can Save Money

Home Warranty Frequently Asked Questions

What is HOW?

Home Owners Warranty is a government scheme by which licenced builders can gain eligibility to build residential construction projects over $20k (it is required by law under the Home Building Act!).

How can I get HOW?

A builder can only obtain HOW by submitting a series of documentation and financial information to eventually be approved by iCare. It is crucial this is prepared correctly to get the ideal outcome for your business.

What is ANTA?

ANTA is Adjusted Net Tangible Assets, this is your business financial position and is mostly assessed by reviewing your balance sheet. The issue is, your assets are adjusted by HOW based on what they assume them to be worth. Contact us if you wish to know what these discounts are and how it can affect your business.

What is Working Capital?

Working Capital is effectively your cashflow position. It is worked out by adding together Cash & Debtors under 30 days and then deducting all current liabilities and average monthly expenses.

Does it matter if I am a Sole Trader or a Company?

Companies and Sole Traders can both obtain HOW eligibility, the rules and requirements are slightly different. We can talk you through the best process.

What do I need to provide you to get me HOW?

To start with we need your Company financials for the previous 2 financial years, or your current assets as a Sole Trader – from there we can quickly work out what your business could be eligible for.

Do I need to put any money into my business in order to get HOW?

A quick assessment of your balance sheet and profit and loss provides us with information we need to better answer you on this, however sometimes you do need to inject money. SEE Business Solutions will always do our best to avoid any money injections required where possible.

How long does the process take?

We will assist you in preparing the relevant information, however once we have this information, the next step is submitting the information to iCare. The iCare review usually takes 10-15 business days. Post this assessment, terms will be provided for you to execute. Once this is completed, you will have your home warranty approved.

What are you going to charge me for this service?

We don’t charge anything for our HOW services, we made a promise to the industry to never let a builder be held back by home warranty. So far we do over $1 billion worth over reviews and we have never failed in achieving this.

If you aren't charging me anything, what else do you do?

SEE Business Solutions helps builders improve their business through better strategies, systems and marketing to ultimately maximise profits. This is achieved by SEE marketing for builders to grow their revenue and helping them implement systems that help them operate more efficiently, grow profits and get time back. Check out our website to see in detail how SEE Business Solutions can help you.

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