Key takeaways:
- Finding the right vendors can be complex
- Comparing bids is essential
- Always check references
- The importance of proper documentation
- A high-quality directory can help you find the perfect vendor
Busy property managers know that a directory can make all the difference when it comes to choosing and screening vendors.
Finding quality vendors to do work in your community can be an overwhelming task. Successfully managed communities have a lot of moving parts and keeping everything running smoothly can be a challenge. It’s important to have reliable contractors to make sure that your community is in good hands when it comes to maintenance, landscaping, and repairs.
Finding and vetting these community partners takes a lot of time – even simple routine projects require collecting bids, screening for proper credentials, drafting and maintaining contracts, and more. Using a vendor directory can save you a lot of time when it comes to finding the right service providers.
Why finding the right vendors can be complex
It’s not necessarily difficult to find a contractor willing to take on a job like maintaining your elevator or resurfacing the clubhouse pool. Many communities find that the opposite is true – there are many willing vendors, but not all of them provide the same level of service and care. Choosing the right person can make all the difference between a job well done and an administrative headache.
To determine who is going to provide you with the highest quality service at the best rate, you’ll need to do your due diligence.
Comparing bids is essential
It may be tempting to accept the first offer of help you receive – especially if you’re dealing with a time-sensitive project. This is a mistake. Instead of taking on just anyone, proceed with caution and compare bids from several providers. By comparing multiple quotes you can ensure you’re getting the highest level of service at the best possible rate.
Always check references
It’s easy for providers to make lofty promises during the bidding process. You might find your dream vendor, who promises punctuality and efficiency, only to find that the deliverable is less than excellent. That’s why it’s so important to check references and reviews. You can search everything from the company’s social media pages to Google business reviews to get an idea of what kind of service will actually be delivered.
The importance of proper documentation
Simply put, a provider that doesn’t have appropriate licensing and insurance will put your community at risk. Without the proper documentation in place, your association could be liable for any potential injuries, damages, accidents, or negligence perpetrated by the vendor. While it’s impossible to eliminate all risk when it comes to taking care of your community, you can dramatically mitigate it by only working with fully credentialed providers.
How a high-quality directory can help you find the perfect vendor
These processes take time. And, time is a precious commodity for busy HOAs and administrators. If the thought of doing this legwork for screening and approving vendors gives you a headache, you aren’t alone. Many managed communities struggle to keep up with the administrative demands of finding vendors and making sure all of the paperwork is in good order.
Receiving bids and checking references
A high-caliber directory makes it easy to compare and contrast capable vendors for any new project. You can quickly collect bids, view detailed company information, and read genuine reviews left by community managers that have previously worked with that vendor. And, keeping it all organized is easy because all of your bids and providers will be stored in one easy to find place – instead of buried in your inbox.
Prescreening for the appropriate paperwork
A vendor directory provides community managers and HOAs with easy access to a vendor’s compliance with essential legal and financial documentation. In essence, this task is completed for you because only vendors who are approved by the directory’s team of analysts will be accepted. So, you can rest easy knowing that the vendors you work with aren’t putting you at unnecessary risk due to lack of documentation.
Connect with the right vendors through VendorSmart
VendorSmart is a valuable directory tool for both vendors and communities alike. We connect vendors and community managers in one place. Our product can help you source and vet members, maintain important documentation, help with risk compliance and management, and handle project bidding and proposal requests. VendorSmart delivers real-time oversight on vital aspects of your business. Visit us today to learn more and download our vendor vetting guide to properly vet vendors and protect your community.