A reliable vendor network means there’s less stress when a tenant calls in the middle of the night with an emergency plumbing disaster. It means you can be sure your HVAC system will be inspected annually to prevent expensive emergencies and replacements. It means you can trust the quality of the work that’s being done and know you’re paying a price that’s fair and competitive.
Protecting the condition and value of your investment property is certainly your job as the property owner, but it takes a village. You need to work closely with your tenants to ensure they report maintenance needs right away. Deferred and unreported repairs will only be more expensive and compromise the condition of your rental home. You also need to work closely with your vendors.
A profitable real estate investment experience requires a preferred list of vendors, contractors, and service professionals who are responsive, proactive, and affordable.
How can you build a reliable vendor network for your own property maintenance needs?
Working with a Northern Virginia property management partner helps. We have these contacts already, and we’re happy to share them with you when work is needed on your property. For self-managing landlords, we know it can be a challenge to rally the right team. Skilled maintenance workers are in high demand, and the work has only grown more expensive. You’ll need all the resources you can gather when you’re looking for good vendors.
Here’s what we recommend when it comes to building a network.
Ask for Maintenance Vendor Referrals from People You Trust
One of the best ways to begin assembling a vendor list is by asking people to recommend their favorite plumbers, electricians, HVAC technicians, etc. If you know you need a roofer to help with some seasonal damage ahead of winter, talk with other investors or even homeowners in your neighborhood who have had roofing work done recently. When people have a good experience with a service provider, they’re usually willing to talk about it.
Expand your network to ask for recommendations from people you work with, live near, and talk to on a daily basis. Get a list of recommendations for the type of work you need, and then start exploring some websites, reading reviews, and reaching out for conversations. When someone refers a professional vendor or contractor, ask what stands out. Talk about rates. Discuss whether they’d recommend the painting company they’re using or the drywall experts.
Asking for referrals will give you a reliable starting point. People who have worked with these professionals can tell you whether you want to work with them or avoid them.
Online Research Can Provide A Lot of Information
We have more resources than ever, thanks to the internet. So, leverage that power. Check out any vendor’s reviews before you hire them.
There are plenty of online review sites that can be helpful. You can review Google, Yelp, and others. Look for consistent reviews that are either positive or negative. One bad review among hundreds of five-star reviews can be easily overlooked. But, if the negative reviews all touch on the same points, such as terrible customer service or missed deadlines, you may want to pay attention to that consistency and look for someone else to work with.
You also want to look at the way a company responds to negative reviews. If they escalate a disagreement and pursue an inflammatory back-and-forth online, these may not be the most professional people in the industry. If they respond with professionalism and a genuine desire to make things right, you’re probably dealing with a reputable vendor.
Choosing Licensed and Insured Vendors for Your Preferred Network
We recommend that you look for licensed and insured vendors and contractors. In some cases, you will not need this. You can have a handyman come over to switch out some light fixtures, for example. Don’t spend money on a licensed plumber just to replace a flapper on the toilet.
There are times and circumstances, however, where working with licensed and insured professionals is an absolute requirement. A licensed plumber will be necessary to repair any leaks and mitigate any additional damage. You’ll want a licensed electrician when it’s time to update your wiring or your outlets.
Insurance is just as important as licensure. The best vendors will have workers’ compensation insurance that protects both their company and the individual workers who they send over to perform repairs at your property.
There’s a lot of liability in hiring a vendor without the proper insurance. What if they get hurt while they’re performing work at your property? There’s a good chance you’ll be responsible for medical bills and even lost wages. Don’t take that chance.
Unless it’s a task you believe could be quickly and easily handled by a handyman, always contract with licensed and insured vendors. You may pay a little more for their work, but you will have all the peace of mind you need that the job is being done properly and that you won’t be stuck with the bill that’s a result of some unpleasant mishap.
Interviewing Vendors for Your Northern Virginia Rental Property
Once you’ve found a good list of professional vendors who you’d like to add to your network, schedule some phone calls or meetings. Plan what you’ll discuss during the interview. As questions about:
- Experience.
- Costs and billing.
- Timetables and how quickly the work can be done.
- Materials used.
- Estimated costs.
Talk to vendors about what they do best, where they might see challenges, and whether there are any other recommendations they have based on what they know about your rental property.
Finding the best vendors in Northern Virginia requires some effort. It’s important to establish these relationships early, however, so that they’re not far away when you need them immediately to respond to emergency repairs. Good vendor relationships make your rental experience much better. They save you money.
If you’re still not sure you have the relationships you need, contact us at Comfort Property Management. We understand the maintenance needs of investors like you, and we can share our own vendor lists and talk more about how we can help you. We lease, manage, and maintain investment properties throughout Northern Virginia in Arlington, Alexandria, Fairfax, Falls Church, McLean, Ashburn, Sterling, Springfield, Reston, Chantilly, Manassas, Centreville, and Herndon.
