UNCHECKED CONTRACTORS: UNDERSTANDING THE HAZARDS OF HIRING Property management can be a brutal business. Even with the best team, tenants, and clients, the sheer volume of work required to keep things running smoothly is massive! This is why building trusted relationships with maintenance vendors is critical.
Reliable maintenance professionals help expand the capacity of a property management company and allows repair work to be done in a timely manner that meets the needs of tenants and owners alike. From a tenant and client perspective, maintenance vendors represent the property management company. As such, vendors and vendor management are critical for success. Great work done in a timely manner and at a fair cost will lead to extended tenancy and management terms. On the other hand, poor maintenance outcomes can be detrimental to a property manager. It only takes one problematic vendor’s actions to
discredit the reputation of a property management company in the eyes of the tenant, the owner, and the general public. Unfortunately, our company trusted an untrustworthy vendor and it cost us literally thousands of dollars and even more importantly, it compromised our social capital, i.e., our reputation!
POOR MAINTENANCE OUTCOMES CAN BE DETRIMENTAL TO A PROPERTY MANAGER.
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