🏢 Property ManagementModerateAlso: Contractor management, Vendor coordination, Service provider management
Vendor Management
Definition
Vendor management is the process of selecting, coordinating, and maintaining relationships with contractors and service providers who perform work on a property.
Common Questions
Real-World Example
A property management company maintains a preferred vendor list and consistently calls CRM Services for painting, drywall, and general repair.
Why It Matters
Getting onto a preferred vendor list is a major business development opportunity.
Related Services
Related Terms
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Work Order
🏢A work order is a documented request to complete a specific maintenance or repair task at a property...
Preventive Maintenance
🏢Preventive maintenance is the practice of regularly inspecting and servicing property systems and co...
Tenant Improvement (TI)
Tenant improvement refers to customizations or renovations made to a rental space to meet a tenant's...