Top 3 Mistakes You're Making When Managing Vendors

Driving consistent, responsive service from external partners is crucial for effectively managing properties and tenant experiences, or any business for that matter. However, many property managers undermine their own accountability efforts by making three key mistakes in vendor management:?

• Failing to set clear expectations
• Not monitoring work sufficiently
• Having weak contracts

The first misstep lies in inadequately delineating performance requirements and standards upfront. Managers often assume vendors inherently understand what is needed or that a verbal overview suffices. However, the lack of clearly documented directives leaves far too much open to individual interpretation and gaps in alignment. Designate staff to check completed work, review activity reports, monitor metrics like response times or customer satisfaction scores, and meet regularly with vendor reps. Schedule oversight touchpoints into maintenance calendars proactively.?

Ineffective vendor contracts further impede accountability. Weak contracts lack concrete scopes of work, detailed service levels, clear performance metrics, and enforcement mechanisms. Outline a process for addressing any shortcomings, including remediation plans, probation periods, or fee reductions before contract termination when warranted. Update contracts upon renewal.

While solid oversight, regular communication, and relationship building drive accountability day-to-day, strong contracts provide important enforceability. Taking time to thoughtfully set expectations, consistently monitor work, and implement robust agreements makes partners more responsive by design. Enhanced accountability translates directly into higher service levels and tenant satisfaction.

Read the full article on our blog here:

?https://rainbowpropertymaintenance.com/facility-managers-driving-vendor-accountability/