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• Ask for their feedback about what is or is not working. This will improve two-way communication and help you uncover hidden inefficiencies in your processes.
• Use the same communication skills you already deploy with your residents and owners with your vendors.
2.) RECOGNIZE THEIR EFFORTS
Just as you realize there is a need for recognition for jobs well done by your team members, recognize that vendors are also part of your team and need your support just as much or more so.
When a vendor feels recognized and appreciated for their hard work, they are more likely to continue to do top-quality work for your business.
• Show physical appreciation (hand-written thank you notes, gifts for “above and beyond” service, or a monthly fruit or cookie delivery).
• Host a vendor appreciation event where everyone can network and spend time building relationships.
• Provide referrals. This is a crucial way to show your vendors their continued success is important to you. Remember to first get permission from those you refer.
• Introduce your vendors to your residents and owners as members of your team, and treat them with the same respect you expect to receive.
• Actively work with your vendors to get them to the much-coveted status of “pre-approved vendor.”
3.) PAY THEM ON TIME
Nothing speaks louder to vendors than on-time payments. Late payments will quickly erode your vendor relationships. Pay them promptly as work is completed, and remember to include a hand-written note that compliments their work and communicates that they are a valued member of your team.
Utilize an online payment system to ensure nothing falls through the cracks. Monthly vendor statements from accounting should be on your to-do list. Keeping their financial well-being in mind shows them that you are working on their behalf and builds trust.
Additionally, file your 1099s on time. Using property management software with built-in accounting tools like AppFolio Property Manager makes it simple to automate accounting processes and reduces errors and late payments.
4.) OFFER DIGITAL TOOLS TO STREAMLINE WORK
In today’s world, there is a good chance your vendors are already using technology. According to the 2021 Angi Skilled Trades Report:
• 21% of tradespeople adopted third-party financing tools
• 39% added digital tools to generate quotes
• 47% added digital payment solutions
Make life easier on your vendors by providing the on-demand digital tools they want and expect. When you use digital tools for work orders, invoices, and communication, you can streamline processes and save time and money all around.
Using a tool like AppFolio Smart Maintenance can instantly optimize your operations. Smart Maintenance uses automation to intake maintenance requests from residents and convert them into work orders, which are dispatched to pre-approved vendors so you’re not switching between systems to send out requests or going back and forth making phone calls. This feature also works around the clock, so you can better serve your residents — no matter the time of day or night.
YOUR VENDOR RELATIONSHIPS MATTER
Making your vendors feel like a part of your team and providing them with the digital tools they need to succeed will strengthen your relationships. Stronger relationships often lead to improved work quality, and efficient work often leads to happier residents and owners.
Founded in 2006, AppFolio is a company that offers powerful cloud-based property management software that property managers use to get their work done from anywhere, maintaining business continuity and keeping connected to their teams and customers. AppFolio is a different kind of property management software, and the company is laser-focused on its customers and their success. AppFolio works tirelessly to develop intuitive technology that really works. Explore why AppFolio is the last property management software you’ll ever need. For more information, go to: https://www.appfolio.com/.
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