HOW WE FIXED IT Of course, our clients should not have to pay for a miss in processes. To that end, we made the decision to have all work remedied by a different vendor. The flooring issue cost us $3,000. The incomplete work cost an additional $4,000. We also reimbursed the client $1,000 for the false expenses associated with the water heater. In parallel, we filed a claim with the vendor’s insurance to cover damage. As one might guess, the vendor had canceled their insurance shortly before the incidents occurred. Through a lengthy legal process, we reached a payment arrangement settlement with the vendor. Eventually, we fully recovered funds and all parties were made financially whole. However, the damage to our reputation was the greater concern. We now had unsatisfied,
inconvenienced, and untrusting tenants. We also had created a situation where the impact to clients was large enough to cause them to need reassurance of our ability to be good stewards of their funds. Finally, the situation created added stress amongst our team. Afterall, these issues were not the fault of just one person. We clearly had a system issue that allowed these things to happen. The work required to have the tough conversations, take ownership, and make changes within our company. It was not an easy (or pleasant) journey.
THE DAMAGE TO OUR REPUTATION WAS THE GREATER CONCERN.
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