There is a lot of work that goes into running an effective HOA, and this often involves calling upon a variety of vendors to tend to maintenance and repairs, landscaping, HVAC needs, remodeling, and more. While cost should be taken into consideration, there is a lot more that goes into creating a beneficial relationship for the HOA. Vendors can become a wonderful asset to the organization when they have the best interests of the HOA in mind and are a reputable service provider.
So what should the HOA keep in mind when it comes to finding excellent vendors to partner with?
- They have current licensing and insurance. The vendor should have all necessary licenses, bonds, certifications, and insurance before bidding on projects. This shows that they are doing their part to be accountable and compliant with requirements and best practices. While the HOA does have insurance coverage, it does not always cover issues that may arise from work completed by a contractor.
- They understand your needs. There are often standard services or packages available, but that does not mean that one size fits all. Find a vendor that is willing to work with your HOA to ensure you are getting just want you need and what you are paying for. They shouldn’t try to force you to buy things you don’t need and should explain exactly what is included and why it is important for your organization.
- They come with ideas. A good vendor doesn’t just do whatever the HOA says. They use their training and expertise to offer insight and recommendations. They work together with the HOA to decide what is in its best interest. The HOA may want to plant trees or bushes along the entry way, but a good vendor will offer suggestions for what kind, how many, and where they should be placed. They want to do the job well and get the best results because they take pride in what they do.
- They value their clients. Does the company return your calls in a timely manner? Are they quick to address questions or concerns and work with you to resolve any issues? Do they finish projects on time or let you know in advance about delays? Good communication is key. You want to make sure that the vendor and HOA are on the same page and transparent with one another.
Vendor relationships are a major investment for the HOA both in terms of money and time, so make sure plenty of research and discussion go into choosing a good match. If a vendor is not working out, don’t be afraid to entertain other offers and see if there is another company that could better meet the HOA’s needs.
Looking for help vetting contractors and managing these relationships? Contact Kuester Management Group to find out how we can help.