Are you a vendor looking to work with a solid property management company? Here are nine ways property managers vet vendors so you know how to stand out.
Key takeaways: Make your business stand out to property managers by focusing on these nine priorities:
- Reviews and testimonials
- Quality work samples
- Location and accessibility
Scoring a contract with a property management company as a vendor can mean long-term work and solid community relationships. When you provide stellar work and your projects run smoothly, you’re more likely to build customer loyalty and enjoy the benefits of steady work.
If you are trying to attract more HOA clients, there are a few ways you can help yourself stand out from other businesses and service providers. Here are nine factors that are prioritized by a property manager hiring vendors.
A property manager will almost always make sure you have the right insurance so that they won’t be held liable should an issue arise. Your insurance should cover damages or injuries and needs to be updated regularly. You generally need to have workers’ compensation and liability insurance as a vendor.
Whether you are a one-person business or have a few employees, you need to be fully licensed for property managers to hire you. Check your local and state guidelines, but you generally need to have up-to-date professional or business licenses that apply to your industry. These licenses show property managers that you are legitimate.
3. Reviews and testimonials
One major consideration a property manager has when deciding to hire you will be your experience and success stories. This is where it may help you to create a section for reviews or testimonials on your website and/or make sure you have a Facebook, Yelp, or Google profile where people can leave reviews. Ask clients who were very happy with your work to share their experience publicly. These positive reviews will show property managers that you are experienced and have left past customers happy.
Most property managers juggle many different responsibilities and are thus looking for vendors who are easy to work with. If you are hard to reach or use outdated meeting and communication strategies they may pass and look elsewhere for easier services. Be prompt in returning emails and phone calls and consider implementing technology like virtual meeting software or business texting so you can stay in touch in a convenient format.
On a similar note, you need to make sure you are reliable. Beyond staying communicative, this means your team should always show up on time and finish tasks as agreed upon in the contract. If a property manager is interested in hiring you never try to cut corners and always do what you say you’re going to do. This starts early on this process with deadlines for returning documents and being prompt for meetings and interviews.
Property managers deal with a lot of vendors, businesses, and residents daily, and they are probably used to dealing with conflict. They may be extra wary of sketchy business practices or vendors trying to cheat. Make sure that you are always honest about things like past negative reviews or if your business cannot perform a certain task. It’s always better to be upfront and open than have to explain later why you failed to meet a contractual obligation.
7. Quality work samples
Be prepared to show work samples or photographs of previous work depending on the type of services you provide. If you do landscaping work, for example, drive a potential client by an outdoor space you recently completed. Always have something ready to show for the work that you to instill the confidence that you can provide high-quality work.
8. Location and accessibility
Another factor that property managers may look for is how close in proximity you are to their property. They will want to know that if an issue arises suddenly you can be there fast. Discuss how transportation works for your company and always be honest about how long it will really take your team to arrive onsite.
Cost is an important consideration for property managers. The right price point is a balance of charging what you’re worth while staying competitive. But property managers also may look closely at payment structure. When will they be required to pay? What if something goes wrong on a project? What are your invoice payment terms?
Making the right choices here may require some openness to working with what they need but you should also research what your competitors are doing so you know what you’re up against and can learn how to stand out. Try to stay flexible during negotiations and find a solution that works for both parties.
Join an online vendor marketplace that offers all a property manager needs to see
A great way to get your name out there and connect with a property manager hiring a vendor is to join an online marketplace like VendorSmart. We give you access to hundreds of community managers and associations who are looking for service providers like you. Use our simple RFP tool to bid on projects instantly, and make your business profile searchable in our VendorSmart directory.
We also help you manage your compliance documents so you can rest assured that nothing is out-of-date. Showcase your services and connect with more property managers in our web-based marketplace.
Contact VendorSmart to learn more about how our platform will help you connect with the right property management companies.