It isn’t always easy to find great vendors for your Oshawa rental property. Costs are going up, even for basic maintenance, and the high demand for skilled and professional repair people is making the market pretty competitive. Many of the great vendors you’d like to call are likely quite busy serving their current clients.
Leveraging good maintenance relationships is one of the best reasons to work with a professional Oshawa property management company.
Things will always need to be repaired and replaced at your investment property. That’s why you need a list of preferred vendors and contractors. When you have this network, you can count on reliable work, careful preventative maintenance, and cost-effective pricing that doesn’t put you over budget.
Screening Your Vendors and Contractors for Preferred Status
You’ll find that many of the simple repairs your investments need can be managed by a handyman who can respond quickly. You don’t need to pay a professional electrician to go over and replace a light fixture, for example.
More specialized work, however, will require a licensed and insured vendor. You want to make sure you’re working with professionals who have the insurance necessary to cover any property damage, injuries, or potential lawsuits.
When you’re putting together a list of preferred vendors, make sure you’re screening them thoroughly. You want to know that they’ll be accessible and responsive, even if you have an emergency repair. You also want to know they’ll be able to get to your rental property quickly and that they have the capacity and the staff to respond to your needs in a timely manner.
After you’ve screened vendors and added them to your preferred network, make sure they understand how much you appreciate their partnership. Use your plumbers, electricians, and HVAC technicians consistently. If you’re an independent landlord, you may not need them every week. But you want to keep the relationship strong so they’ll be available to you when you need them.
Preferred Vendors Improve Efficiency and Quality at Oshawa Rental Homes
Working with a consistent team of preferred vendors and contractors allows them to become familiar with your rental properties. This is an advantage when they’re called out to manage a repair. You can expect that they’ll be better prepared and knowledgeable about how your property functions.
You’ll also find you won’t have to wait as long for return phone calls, appointments, and emergency responses. When you have preferred vendors, you’ll often be a priority. This helps when there’s no heat in the middle of a cold winter or a water heater is leaking over a holiday weekend.
With a preferred network, you can expect improved quality and efficiency. That’s going to result in less stress and lower costs. You’ll have happier tenants, too, which means your retention rates will be stronger.
Preferred Vendors May Offer Discounted Rates
Perhaps the best benefit of a preferred vendor list is that you can expect their best rates.
You may have noticed that maintenance costs are going up. The best way to protect your ROI is to lock in some preferred rates with your vendors. They may be willing to offer discounts, especially if you sign up for a preventative maintenance and inspection plan or a similar service.
We can help you put together a preferred vendor list by making some referrals. Or, we can take the maintenance headaches off your plate for good by managing your investments for you. Please contact us at Investor’s Choice Property Management. We provide property management in Oshawa, Whitby, Courtice, Bowmanville, Pickering, Ajax, and communities in the regions of Durham and Clarington.