Category: Management

4 Things Contractors Want Property Managers to Know

How to Ensure Your Multifamily Construction Project Goes Smoothly.

Managing a multifamily construction or remodeling project can be a daunting task for property managers. You may be experiencing pressures from the building’s owner or residents, and you’re likely not an expert on construction processes. But there is a way to minimize the headaches and hassles: Build a good relationship with your contractor!

A great way for property managers to work well with contractors is to learn some construction business basics. Taking time to understand the key aspects of building projects goes a long way toward the success of a job. Here are four things contractors want every property manager to know.

1. Reach Out to Your Contractor in Advance
The construction industry is booming — spending is estimated to hit $1.35 trillion in 2019 — so contractors have no shortage of jobs to complete. That means if you have a specific deadline for a project, you’ll need to reach out well in advance to secure a contractor. While the amount of time required for a multifamily construction project varies, a good rule of thumb for most large projects is to reach out to a contractor four to six months in advance.

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Two Ways You Can Stress Out Your Vendor Relationships

We started receiving requests to post anonymous posts on our Multifamily ShareSpace group, which we are happy to do, and today, we were asked to post an anonymous blog! I can tell you I have heard similar thoughts from others on these topics, so this is definitely not an isolated incident. Please chime in within the comments on your perspective of this issue.

I have two thoughts I would like to offer anonymously to the group from a vendors perspective. I have been on all sides of the desk from on-site to corporate management to now a vendor. As a vendor I obviously don’t want to come off as complaining, but would like to offer some perspective to a couple of issues.

  • 1) The importance of vendor payments and their timeliness.
  • 2) Responding to bid request.

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