Why Condo Property Managers Shouldn’t Rely Solely on Platforms Like VendorPM for Hiring Vendors

As a condo property manager, finding reliable vendors is one of the most critical aspects of your job. Platforms like VendorPM market themselves as convenient, one-stop solutions for sourcing “trusted” and “vetted” vendors. However, relying exclusively on such platforms is a decision that warrants deeper scrutiny. While VendorPM may seem like an efficient solution on the surface, it comes with significant drawbacks that could compromise the quality of your vendor partnerships and ultimately, the satisfaction of your condo residents.

The Illusion of Vetting

One of VendorPM’s primary selling points is its claim to connect property managers with thoroughly vetted vendors. In reality, the vetting process is far from rigorous. To list on the platform, vendors need only provide their WSIB Clearance, proof of insurance, and a business license. While these documents are essential, they say little about the vendor’s actual workmanship, service quality, or ability to maintain a strong working relationship with clients.

Consider this analogy: hiring a vendor solely because they meet VendorPM’s minimum requirements is akin to hiring a job applicant simply because they possess a passport and a SIN number. These credentials prove eligibility but provide no insight into the individual’s qualifications, skills, or professionalism. Choosing vendors based on such superficial criteria is a risk no property manager should take.

A Faceless and Impersonal Platform

VendorPM’s platform lacks the interactive, personal touch that is often necessary to make informed decisions about service providers. You are essentially forced to rely on limited information, such as a brief profile or bid submission, with no opportunity for meaningful engagement. This faceless nature of the platform makes it difficult to assess intangibles like communication skills, responsiveness, and willingness to go the extra mile—factors that are critical to a successful vendor relationship.

The Hidden Costs to Vendors (and You)

VendorPM’s business model raises additional concerns. Vendors are required to pay hefty fees to list on the platform, often through long-term subscription agreements. High-pressure sales tactics are frequently employed to secure these commitments, alienating many reputable vendors, particularly small businesses and established providers who value fair and transparent practices.

This creates a problematic dynamic: the platform becomes a pay-to-play environment, potentially excluding vendors who may excel in service delivery but refuse to participate in such exploitative practices. As a property manager, this means you’re limiting your pool of options and potentially overlooking exceptional vendors who choose not to engage with VendorPM.

Limiting Competition and Missing Out

By relying solely on platforms like VendorPM, you inadvertently stifle competition. True competition comes from casting a wide net and evaluating vendors based on comprehensive, firsthand insights rather than superficial listings. Limiting your search to one platform not only narrows your options but also reduces the competitive pressure that drives vendors to deliver their best work at fair prices.

Smarter Alternatives to VendorPM

Rather than confining your search to a single platform, consider these more effective strategies:

1. Leverage Local Expertise: Seek out vendors with a strong local presence and a reputation for excellence in your area. Look for companies with robust online reviews, detailed websites, and a proven track record.
2. Tap Into Your Network: Consult with fellow property managers who have firsthand experience with vendors. Their honest recommendations can provide valuable insights that no online platform can replicate.
3. Evaluate Holistically: Conduct in-person or virtual meetings with potential vendors to assess their communication skills, professionalism, and compatibility with your property’s specific needs.
4. Diversify Your Approach: Use multiple sources for vendor discovery, including word-of-mouth recommendations, industry events, and even direct outreach to vendors with promising reputations.

Conclusion

While VendorPM may appear to simplify the vendor selection process, its drawbacks far outweigh its benefits. By limiting your search to platforms like these, you risk missing out on exceptional vendors, compromising the quality of service at your property, and succumbing to a faceless, pay-to-play system that prioritizes profit over quality.

Instead, take a proactive and diversified approach to vendor selection. Rely on local expertise, network with your peers, and evaluate vendors holistically. By doing so, you’ll not only ensure better outcomes for your condo but also foster stronger, more productive partnerships that stand the test of time.

Don’t settle for convenience—strive for quality. Your property and its residents deserve nothing less.

Copyright Disclaimer

The VendorPM logo, as featured in this article, is the property of VendorPM and is protected under copyright law. The use of the logo in this context is intended solely for informational and illustrative purposes to reference VendorPM as a subject of discussion.

This usage falls under the principles of "fair use" as outlined in copyright law, as it is non-commercial, transformative, and intended for critique, commentary, and educational purposes. No endorsement, affiliation, or sponsorship by VendorPM is implied.

If you are the copyright owner and believe this usage does not fall within the bounds of fair use, please contact me to address your concerns.