TIP OF THE MONTH - July 2013

Relationship Advice
Source: Property Management Journal
              By Karen Pharr

When you develop a good working relationship with a vendor, it is a win-win for everyone involved, particularly for your Client.  However, should a conflict occur, you will be presented with a true test.  As a property manager, you have been hired by your Client to take care of whatever issues arise on the project, including vendor performance.  Like any relationship, the manager/vendor relationship is ripe with potential pitfalls.

The Comfort Zone: We all have our go-to vendors; the companies or individual contractors we can count on for anything.  In some cases, we may even think of them as friends.  We must remain objective, however, not to slip into a “comfort zone”, and simply choose our favorites for every job.  If a job requires someone with more experience or larger crew, you must do what is best for that project.  Your ethical duty is to use the vendor best suited for the project.

Blinded by the Bling: Accepting a gift of any kind from a vendor is unacceptable.  If you do accept a small “perk”, it must be disclosed.  You need to be cautious and make certain the perk is not a cover up for the job not getting done properly or at an inappropriate cost.  We have all dealt with a vendor who is all talk and no action.  As a manager, you must recognize this and quickly remedy the situation, perhaps by telling the vendor that a job well done is the only reward you need.

(continued in August 2013)

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This web page was updated on 07/02/2013.