What to look for in Qualifying a Vendor?

Looking for a good contractor and qualifying a vendor is an important task for a property management company. 

It can be a deciding factor for some landlords if a property management company is partnered with credible local contractors in the area who are known to deliver satisfactory service. 

An expert in the industry knows the essence of qualifying the best vendor and contractors for the properties they manage. 

This separates them from others who may lack experience and shows their professionalism and capability in managing a property effectively.

How to look for the right vendor?

Have a Quality Checklist

Some property management companies usually hire vendors and contractors through referrals or from a preferred vendor’s list. 

However, it is still important to sit down with a proposed vendor. Ask a series of questions to evaluate if they are someone you are looking for if they suit the job. It is best to know if they are highly capable of working with you, your tenants and your landlords’ requests. 

It is crucial that you only pick quality vendors. The property management company is responsible and accountable for managing the property. When they choose a vendor, they will be accountable for all the actions made by the contractor. Finding the right contractor should be strict as well. 

They should also feel equally responsible as the property management company.

Some questions that asked for the quality checklist are:

• What are your skillsets? Can they do plumbing, HVAC or are they comfortable in painting a wall? Know what exactly can they do.
• Are you available for a 24/7 emergency repair?
• What is your timeframe on a job? How long can you finish the job from start to finish?

Check References

Has the vendor worked for other property management companies as well? 

Background checks should also be a part of qualifying a vendor. It offers an insight into how a contractor performs. These checks verify the information they provided you and helps you determine if they are fit for the job. 

A property management company should always remember that their credibility is in line if they introduce a bad contractor to its clients. 

Doing a reference check is an assurance that you are on the right path in choosing the best vendor to work for you.

How they performed in the past

How does the contractor perform? Did he complete the job within the timeline? 

Is he able to complete all his goals? Can he be recommended again? Do they have all the equipment needed in completing a job? 

You want to make sure they are completing their job on time and are professionals when they are out in the rental property.

Are they properly staffed?

In property management, there are a lot of unexpected situations that may arise. 

Emergency repairs can be quite common and there must be someone you can send in the middle of the night to fix a leaking faucet or a clogged toilet. 

A proper vendor and contractor should always be properly staffed so when a property management company contacts them for issues like these, someone can be sent right away.

It is also very important to know if they are capable of doing large scale jobs or are they only for minimal repair. 

A property management company should be able to find out if they can be reliable in doing emergency repairs, maintenance requests, and large scale jobs.

Reviews

Feedback from the community has a high value of significance in qualifying a vendor. 

The neighborhood usually checks if the contractor you bring in is someone they know, from a preferred vendor’s list and if others highly recommend them. 

Just like how landlords and tenants choose a property management company through reviews, vendors, and contractors use these feedback as to their weapon for quality check and assurance that they provide excellent service.

Documentations

You want to make sure that before you pick a vendor to work with you, they have the proper documentation and are compliant with your state. 

Some of the documents to look for are Business License, W-9 for tax purposes, a workman compensation policy and the most important part is the insurance and if they can add the property management company as an additional insured in any case any accidents arise on site. 

Conclusion

Choosing the most qualified vendor is one of the key factors in providing excellent service to your clients. Being able to assure them that you are working with the best local contractors in the neighborhood establishes more trust and confidence in you as a property manager.

Green Ocean Property Management has been in the industry for over 40 years. With the years of experience we have, we were able to find the best local contractors in the neighborhood and only work with them. 

As the leading experts in this industry, we know how important it is to have a local contractor who is always available. They cater to urgent matters that need to be dealt with immediately. 

Our company have built relationships with trusted local vendors and contractors that have proven track record of providing excellent service, able to complete the tasks within the timeframe, capable of doing the jobs right and for the right price. 

We assure our clients that we provide them the best solutions to their maintenance requests. Our service providers do emergency repairs quickly by choosing the right vendor for the job. 

Do you need help with your rental property? Our team of experts will ensure that your property is always in its best condition!

BOOK A FREE CONSULTATION

Email us at hello@greenoceanpropertymanagement.com or call 617-487-4868.

You may visit our office at 268 Centre St Newton MA 02458.