Being a landlord means being the one to receive a phone call at 1:00 AM that a plumbing issue is flooding your rental property. What are you going to do about it? You likely aren’t equipped to handle the issue yourself – you are an investor, not a plumber. Do you know who to call?
It is a desperate time in the middle of the night where there is an emergency. You may just jump on Google and find the first 24-hour plumbing service that is available and call it a day. But, how do you know that your chosen plumber is a trustworthy choice? What do their certification, insurance, and licensing look like? You may get lucky. But, you may also find yourself paying too much for work that is less than par – and may end up costing you more in the future!
To avoid situations such as this, vendor credentialing is crucial. This way, no matter what arises, you have a trusted professional on the other end of the line willing to handle the needs at your rental property.
Licensed and Insured
Vendor credentialing reduces risk. When you prepare ahead of time, you have the opportunity to gather information, such as license and insurance information. This reduces the risk of you having someone handle maintenance on your property – and something goes wrong.
Network with Others in the Business
The more you build bridges with other investors, landlords, and property managers in the community, the more you will discover trustworthy vendors. This is a great resource that should never be overlooked.
Access and Availability
When you have a network of credentialed vendors, then you know who is available when. You know that it may be easier to reach one faster than another and vice versa. And, you also know that they understand your process for accessing the property, payment, and maintaining contact with you directly.
Vendor credentialing doesn’t have to be a big process, but it can take time to build relationships, gather information, and create a level of professional trust. To ease your workload, you should know that your Atlanta property manager has already developed this rapport and has a list of credentialed vendors ready no matter what need arises.
