When you need work done on your rental property, whether it’s a simple paint job or a new roof, you need to be highly selective in who you choose to complete the work. Property managers are experienced at this because we work with lots of vendors in a variety of specialties all the time. Today we’re sharing a few tips that will help you choose the best vendor for the right price.
Referrals and References
Think about screening vendors the same way you would screen a new employee or even a tenant. Ask about experience, what kind of work they have done previously and whether they have any references. Do a little bit of research online to see if there are any reviews of their work or referrals from satisfied customers. Check them out with public and professional agencies to make sure there haven’t been any complaints or excessive lawsuits against them.
Licenses and Insurance
It’s critical to work only with vendors who are licensed to perform the work they do. Using an unlicensed worker puts your property at risk and also sets you up for some serious liability issues. Hire someone who is qualified for the job. Look for a licensed plumber when you need plumbing work and an electrician when you need electrical work. Specialized vendors have extra training and experience that will benefit your investment. It’s also important to make sure any vendor you use has adequate insurance, including liability insurance and worker’s compensation insurance. Otherwise, you could be held responsible if something happens or someone gets hurt while performing work at your house.
Fees and Contracts
Talk about the fee structure of any vendor you’re considering. You need to know how they bill for the work they do and what kind of contractual requirements are included. It’s important that you understand the scope of work you’re paying for. Get everything in writing and document all the estimates, proposals and final invoices. We always recommend that you ask for pictures once a job is complete. This way, you can see the work that was done and you can communicate with the vendor about any issues or problems that they may have encountered. You can also ask for recommendations about preventative maintenance and repairs that may be required in the near future. Hiring a vendor doesn’t have to be complicated, but you need to be thorough when interviewing and screening the professionals who will work on your property. If you need help, please don’t hesitate to contact us at PRS Property Management.
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