If the ground hog was right last month, Spring is just around the corner. With that comes warm-weather maintenance projects.
When selecting vendors for your projects, keep some of these tips in mind:
Hire Licensed, Bonded and Insured Vendors
It should go without saying, but it is important to hire ONLY licensed, bonded and insured contractors. When vendors have these things in place, your HOA is protected in the event of property damage or injury. Remember to verify that vendors maintain workers’ compensation and general liability.
Also, it’s good practice to have bidders clarify what portions of their proposed services will be subcontracted when they submit a proposal. If a subcontractor will perform work, they should be subject to the same requirements as the prime contractor. Bonding may not be necessary for all work, but requiring a bond is a good way of insuring that you are dealing with a reputable contractor.
Written Vendor Contracts
Having written contracts in place when hiring a vendor will help protect the HOA. A written agreement should contain the scope of work, the timeline in which work needs to be performed, price to be paid for the work, contract termination options, methods of payment, how breaches of the contract will be addressed, warranties, indemnification of the community association for any damages brought about by the vendor during the course of the work, and a clause that makes the vendor responsible for compliance with all regulatory entities.
Having written contracts in place when hiring a vendor will help protect the HOA. A written agreement should contain the scope of work, the timeline in which work needs to be performed, price to be paid for the work, contract termination options, methods of payment, how breaches of the contract will be addressed, warranties, indemnification of the community association for any damages brought about by the vendor during the course of the work, and a clause that makes the vendor responsible for compliance with all regulatory entities.
Develop a Clear Scope of Work
The first step in establishing a regular service contract or in starting a project should be establishing a Scope of Work. The Scope of Work can be used as part of a Request for Proposal process and then can be incorporated into a contract that is awarded. A clear Scope of Work also allows the Board to effectively compare pricing based on apples-to-apples service.
The first step in establishing a regular service contract or in starting a project should be establishing a Scope of Work. The Scope of Work can be used as part of a Request for Proposal process and then can be incorporated into a contract that is awarded. A clear Scope of Work also allows the Board to effectively compare pricing based on apples-to-apples service.
Vendor References
Check with references before hiring a vendor. Look for their online reviews. Google and Yelp can tell the story before you even speak to a vendor. The Better Business Bureau will also have a clear rating of the contractor to help in making your decision.
Check with references before hiring a vendor. Look for their online reviews. Google and Yelp can tell the story before you even speak to a vendor. The Better Business Bureau will also have a clear rating of the contractor to help in making your decision.
Competitive Bid Process
Always get at least a comparison quote if not at least 3 quotes through a competitive bid process. This will guarantee the best deal for the association.
Always get at least a comparison quote if not at least 3 quotes through a competitive bid process. This will guarantee the best deal for the association.
If you have a full-service management agreement with Sharper Management, your community manager can help you with this process. Have a wonderful Spring season.