My first whiteboard animation video is here!
Working with the right vendors is one of the crucial keys to successfully managing rental properties.
So who are the right vendors?
- They are skilled at what they do. Generally speaking, to get good at something, you need to focus on one trade. This is why we use a licensed electrician, not a handyman for electrical work.
- They are available. This means they respond and fix within a reasonable time.
- They have the proper paperwork. This means they provide an invoice (no cash transactions,) W-9, insurance, and license, if necessary.
They swing hammers. What I mean by that is they have few overheads. I know the cost will high when a company has a salesperson, CEO/president, receptionist, and finally the actual worker who does the work. That said, the vendors we use are usually more expensive than a handyman. But I believe that if you do your job well, you are supposed to get compensated fairly, not cheaply.