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Property Management Blog

How we choose our vendors

My first whiteboard animation video is here! 

Working with the right vendors is one of the crucial keys to successfully managing rental properties.

So who are the right vendors? 

  1. They are skilled at what they do. Generally speaking, to get good at something, you need to focus on one trade. This is why we use a licensed electrician, not a handyman for electrical work.
  2. They are available. This means they respond and fix within a reasonable time.
  3. They have the proper paperwork. This means they provide an invoice (no cash transactions,) W-9, insurance, and license, if necessary. 

They swing hammers. What I mean by that is they have few overheads. I know the cost will high when a company has a salesperson, CEO/president, receptionist, and finally the actual worker who does the work. That said, the vendors we use are usually more expensive than a handyman. But I believe that if you do your job well, you are supposed to get compensated fairly, not cheaply.