Posted by Mitchell Vinnitsky

4 Ways to Keep Vendors Happy

As a property manager, you place a lot of focus and emphasis on keeping owners happy. But there’s another important side of that coin, and that’s the vendors with whom you work. Without partners like plumbers, electricians and other contractors, you can’t effectively hold up your end of the bargain. In other words, maintaining solid relationships with vendors is one of the fundamental keys to owner satisfaction. Here’s how you can build and maintain strong working partnerships with your vendors.

Over-communicate.

The saying ‘it’s better to be safe than sorry’ is pivotal to vendor relations. A simple misunderstanding or lack of key details could end up costing you a lot more and leaving your contractor feeling frustrated. When working with a vendor, make sure you dot every ‘I’ and cross every ‘T’ in the process. Be clear about what you need done, exactly when you need it done by and any other critical details. For longer projects, touch base regularly to track progress and make sure everyone is still on the same page.

Show appreciation.

You may routinely recognize your employees for a job well-done, but what about your vendors? While they may not work in your office, they are technically an extension of your team, and should therefore be appreciated for their efforts. When a vendor feels valued, not only will they continue to perform at their best, but they’ll also be more loyal. Show gratitude whenever the opportunity presents itself. And don’t forget referrals. Those are the Holy Grail for contractors, and a great vote of confidence.

Pay promptly.

Nobody wants to be chasing people to collect what’s owed to them, and your vendors are no different. If you want to keep them happy and ensure that you stay on the top of their client list, then make sure they are compensated in a timely manner. Using a tool like property management software with built-in accounting features can expedite the process. Lastly, to really make a positive impact, include a note complimenting their work and reminding them that they’re a valued member of your team.

Empower them.

Your employees aren’t the only ones who benefit from advanced property management technology. With a tool like INFO-Tracker, vendors are empowered to work independently and efficiently, with instant remote access to the most current work order schedule, as well as quick links to individual job details, all right at their fingertips. This makes their lives easier, which in turn makes them happy to continue to accept work from you.

Making your vendors feel as though they’re part of the team and arming them with the digital tools they need to be successful will go a long way toward developing and strengthening long-term, mutually beneficial partnerships. This will subsequently lead to better quality of work and greater efficiency, which will make your owners and residents happier as well.

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