As a condo property manager, your job involves juggling countless tasks — from daily operations to ensuring your building's community thrives. Yet, one of the most crucial responsibilities is helping the condo board make smart, long-term decisions that ensure the property's well-being. One of the most challenging areas often lies in vendor selection.

It's easy for boards to fall into the trap of choosing vendors based solely on cost. However, as property managers, we need to remind our boards that looking at only dollars and cents can lead to costly mistakes down the road. The cheapest proposal isn't always the best one. In fact, it can end up costing the corporation more in the long term in terms of quality issues, subpar service, and hidden costs.

So, how can property managers sway their boards to make better decisions that aren't just about the lowest price tag? Here are some strategies to elevate your role as a leader and help your board see the big picture when evaluating vendor proposals.

1. Educate on the True Cost of 'Cheap' Vendors

Boards are often under the impression that cheaper vendors are a quick win. They see savings and think, "Why not?" But property managers need to help them understand that cheap doesn't mean cost-effective.

Vendors who offer low prices often cut corners in materials, labour, or customer service to stay competitive. This can result in a shoddy job that leads to ongoing maintenance issues. Over time, these problems might require frequent repairs, costing more than if a higher-quality vendor had been selected upfront.

A smart property manager will present a total cost of ownership analysis — factoring in long-term quality, durability, and customer satisfaction. This approach helps the board see beyond the initial price and understand the full financial picture.

2. Highlight Vendor Experience and Reputation

Price alone should never be the deciding factor. Property managers can demonstrate the importance of vendor experience and reputation by showcasing past successes, client testimonials, and any relevant certifications. For example, a vendor with years of experience managing condo properties is likely to better understand unique challenges, such as dealing with high-rise buildings, condo corporation rules, or resident satisfaction.

Property managers can also stress the importance of consistency and reliability. Choosing a vendor with a proven track record for timely, high-quality work may cost more upfront, but the peace of mind and long-term reliability often pay off.

3. Assess Value Over Price

The right property manager knows that value isn't just about the price — it's about the overall impact the vendor will have on the property. When presenting proposals, property managers can lead their boards in evaluating each vendor on the following non-financial criteria:

1. Quality of work: Will the vendor provide a lasting solution, or will repairs be required again soon after?
2. Customer service: Will the vendor provide exceptional communication and service, especially when problems arise?
3. Innovation: Does the vendor offer solutions that improve efficiency or add value to the property?

By evaluating vendors on these metrics, property managers can emphasize that value is about the long-term results, not just the immediate cost.

4. Use Real-Life Case Studies and Data

Numbers don't lie, and property managers can use data to make a compelling case. Real-life examples and case studies can show the difference between a cheap vendor and one that offers higher quality and better service. Presenting documented outcomes such as reduced maintenance costs or increased resident satisfaction can be persuasive.

For instance, share examples from similar properties where choosing a higher-priced vendor resulted in fewer repairs, better service, and lower overall costs. Property managers can also leverage previous vendors' performance metrics to demonstrate why the costlier option provides better value.

5. Present Multiple Options with a Clear Breakdown

Instead of just presenting a single proposal, consider offering multiple vendor options with a detailed breakdown of pros and cons. This gives your board the opportunity to compare vendors based not only on price but also on the other essential factors you've highlighted — like quality, experience, and service.

By helping the board weigh the total benefits of each vendor, you'll guide them toward a decision that considers all aspects of a vendor's offering, not just their bottom-line price.

6. Foster Open Discussions and Involve the Board in the Process

Property managers shouldn't just hand down a final decision. They should engage the board in a thoughtful conversation about vendor selection. Lead discussions that allow the board to ask questions and consider the impact of each proposal. Encourage a deep dive into the vendor's offerings — asking questions like:

1. What guarantees or warranties do they offer?
2. How flexible are they in case of unforeseen issues?
3. What's their approach to customer service?

This collaborative process ensures that the board feels confident in their decision and is less likely to opt for the cheapest option just to avoid making a more thorough evaluation.

7. Emphasize Long-Term Relationships

Finally, property managers can stress the importance of fostering long-term relationships with vendors who care about the property's success. It's tempting to go with the one-off cheap option, but building a relationship with a vendor who understands the specific needs of the building can lead to better results over time.

A strong, reliable vendor partnership often leads to better pricing down the road. As you continue to work together, the vendor becomes more familiar with your needs and can offer more tailored solutions that positively impact the property's operations.

Conclusion

Looking beyond the financials is the key to making the best vendor decisions for your condo community. Property managers are responsible for guiding their boards in considering quality, reputation, and value rather than simply picking the lowest bid. By emphasizing the long-term benefits, showcasing real-world examples, and fostering collaborative discussions, you can lead your board toward vendors who will provide the best results — and ultimately, the best value — for the corporation.

When property managers take the lead in vendor selection, they're not just saving money. They're ensuring the property's future is in good hands.

Lisa Ricci is the Vice President and co-founder of Markland Wood Group, a family-owned snow removal and landscaping company serving over 20 condominium corporations across the Greater Toronto Area. With more than 15 years of experience in the industry, Lisa has gained invaluable insights from working in various roles, from small operations to large businesses, shaping the foundation for her own company. Her leadership is grounded in the core values of respect, integrity, and hard work, which are reflected in the company’s commitment to delivering high-quality service and fostering long-term client relationships.

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