Why is it important to work with your vendors when you are budgeting for property maintenance? Simple. If you have a long standing relationship with your vendors, they are apt to know your property quite well. Their knowledge and expertise in their specific field is a valuable asset when planning and budgeting for preventive maintenance. Why? Your vendor can share how preventive maintenance may save you money in the long run.
While your vendors cannot always predict a high cost repair, they can certainly help you plan for the possibility. And your vendor will can advise you on annual, semi-annual, or quarterly maintenance programs that may help prevent emergency and often high cost service. How? Ask them to walk through your property with you and your maintenance team on a regulate basis. Together, you can earmark certain projects and their associated costs…and schedule routine maintenance checks and service. Partner with your vendors and use their years of experience and variety of service offers to help reduce your emergency repair costs. As an added bonus, regular maintenance may also help to identify and reduce any risk management issues.
With so many items on your task list as a property manager, why not enlist the help of a trusted, knowledgeable vendor to guide you through your property’s maintenance and possibly preventing a more costly repair? They can honestly estimate the costs of certain projects even is they aren’t going to be completed right away. Regardless of your budget, there are several tips of the trade that can be shared by your vendors. Some of these are free and just require you to remind or educate your residents. Why not invite your vendors to a community gathering that address common concerns? They are on your property each day and a gathering will also allow your residents to meet them face to face. Preplanning and involving your vendor when creating your budget will also allow vendors to make sure they have staff available to service your property needs.
Remember, your vendors want to help and be of service all year long, not just when you have an emergency. A good communication with your vendors will lead to long standing a win/win relationship.
By Susan Adams
ASAP Drain Guys & Plumbing
As seen in the SDCAA Rental Owner Magazine