The ability to build relationships is a key skill of an excellent manager. It is important when they are working with tenants, with owners, and with vendors. Out of the three, vendors may be the most neglected when it comes to building relationships.

This may be because, as opposed to tenants and owners who ultimately pay property managers, managers are on the paying end of their relationship with vendors. Wise property managers, however, will nurture and grow their relationships with vendors. The reason is simple. Good relationships with your vendors will help you become a better property manager.

Why Vendor Relationships are so Important

Every manager has been in a situation when they were at the mercy of a vendor in an emergency. It may have been at odd hours or on a weekend or even during a holiday. In Chicago, it could come during one of our legendary cold snaps when pipes are freezing throughout the city. When these types of events occur, you want to be at or near the top of the list of the vendor you need most. This will likely be where relationships play a significant role.

How to Nurture Vendor Relationships

Vendor relationships are nurtured in several ways. Making sure they get paid quickly is the most simple and most appreciated way to build relationships with your vendors. Acknowledging their work is also an easy way to improve relationships.

There are also some more unusual out-of-box ways to build your vendor relationships. Consider scheduling quarterly lunch meetings with your vendors to discuss your building and its preventive maintenance program. Ask for their suggestions.  This will also give you an opportunity to learn more about new maintenance practices that can help you become more efficient in maintaining your property. One of these innovative practices is NuFlow pipe lining services.

Who Are Your Key Vendors?

Building and property managers will likely have plumbers and electricians at the top of their list of important vendors. There is perhaps nothing that can do more damage quicker than busted water pipes. But there are also other vendors you’ll want to have good, solid, relationships with including your HVAC service, your elevator repair company and security company are a few.

NuFlow Midwest Pipe Lining Solution

NuFlow Midwest can help Chicago area building and property managers restore leaking, corroded or eroded pipes without the costly expense and disruption of pipe replacement. It’s a safe, efficient epoxy lining process that uses a proven, four-step process to get your resident’s water running again. To learn more about NuFlow Midwest and our exciting and valuable pipe restoration process, contact us today!