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Hiring subcontractors for property repairs can be a cost-effective alternative to general contractors. To ensure clear communication and prevent financial disputes, an independent contractor agreement is essential. This agreement, provided in the video tutorial, serves as a straightforward and practical tool for hiring and managing subcontractors effectively, minimizing risks and ensuring the job gets done efficiently. Communication clarity and legal protection are crucial when hiring subcontractors to avoid costly misunderstandings or potential legal issues.