Hammersmith is pleased to have another article published in the Community Associations Institute (CAI) Rocky Mountain Chapter magazine, Common Interests. Our latest article discusses the value of Vendor Relationships. In the first part of our three part blog series we will discuss Familiarity.
In our personal lives, we often visit the same barber, shop at the same stores, and eat at the same restaurants. Why? Because we know and appreciate the price/value relationship we are going to receive. The same concept applies to HOA/vendor relationships. Encouraging your association to build relationships with vendors can yield lasting benefits for years to come.
We are creatures of habit. When we find something that we like, we stick with it. The classic phase, “If it ain’t broke, don’t fix it” applies here. Fostering long-term vendor relationships provides your association with the peace of mind knowing that those who are working within the community are knowledgeable and able to handle issues more quickly and efficiently. That means less down time for parking lots, pools, tennis courts, exercise equipment and other amenities in your association. Vendors who have worked within your community also understand the lay of the land and know where there they are allowed to place their equipment and dumpsters so as to keep resident disturbance to a minimum.
As your association builds relationships with vendors, the vendors begin building relationships with each other, as well. Vendors working cooperatively with each other can be crucial, especially during time-consuming projects. The more familiar everyone becomes with one another, the easier it is to communicate and understand each other’s concerns. Great communication is key to achieving the association’s goals and timelines.