Access to accurate data is essential to the mechanics lien process. Without properly identifying the project information, a document is useless. The following are just a few pieces of information that are often required on preliminary notices, mechanics liens, bond claims, and other related documents that are necessary to securing lien rights: project address, legal property description, and contact details for the property owner, general contractor, and lender.
Sometimes finding this information can be really tough! Uncovering contact details can be especially difficult for subcontractors, material suppliers, equipment lessors, and other sub-tier parties on large projects, because they likely have no contact with the property owner, GC, or lender.
What Does Universal Data Mean?
What does Universal Data mean for you? It’s more than just choosing between two similar contacts, and it goes beyond the an individual’s role on a specific project. Each bit of information collected transforms a project from a pile of names, deeds, addresses, and assessor reports into a complete, comprehensive, and dynamic profile of the project location and the people involved.
Universal Data is an enrichment tool; it takes the data you have, the data other parties on the job have, and the data the bank has and presents the clearest picture of the project at hand. Constructing this Universal Data Graph that contains all the pertinent information on projects, properties, and people creates transparency in an industry that can often be frustratingly opaque. This transparency gives you and your business the tools necessary for strategic decision making.
Collaboration for Clarity
Let’s say the data you have on a project isn’t as accurate as you would like. Since the essence of Universal Data is the collaboration of many different data sources, someone else on your project can fill in the blanks for you. As each project becomes more complete, there is less guesswork for you and your team. If every party on a project contributes the most accurate information available to them, Universal Data, JobSight™, and Levelset’s patent-pending RFI (request for information) process will flesh out the details.
Leveraging Data to Enhance your Business Decisions
There are myriad ways this data can improve your business decisions. If you’re considering expanding your business to a new city, state, or region, Universal Data can help provide insight into the volume of projects in these potential locations. Interested in certain project segments such as commercial, private, or public projects? It can uncover that, too. Interested in improving your connections? Use Universal Data to track relationships with your business partners.
Leveraging this information to build better projects and better businesses, means building a more fair construction industry. This ever-evolving data gives businesses the tools needed to avoid bad contacts, sidestep potentially disastrous projects, and promote growth and success in the people, places, and companies they support.