By Property Management Systems
Did you know that one of the most important things you can do to successfully add one Portland Oregon Rental Property after another to your portfolio is to have a vendor matrix.
If you’re not familiar with what a vendor matrix is, this post will get you started with creating your own vendor matrix and how you can use it to grow your rental property portfolio.
What Exactly Is A Vendor Matrix?
A vendor matrix is your own list of people you will call when your rental property needs repairs and or maintenance.
As you create your vendor matrix keep in mind that you’re going to need trusted people you can call for things like: plumbing, air conditioning, flooring, heating, roofing, landscaping and general contracting.
Your goal with creating a vendor matrix is to choose people who not only will offer you the best rates but will be willing to fill out your insurance documents and confirm that they are licensed / bonded.
Don’t Forget To Create Backup Vendors
Yes, creating a vendor matrix is important but, creating a list of backup vendors is also important as well, since you want to make sure that you have people you can call when one or more of your primary vendors are unavailable.
Establishing a relationship with vendors will save you the time, money and hassle with choosing the right vendors since you will already know who you can trust and you won’t have to waste money searching for the right people.
Rent Your Portland Oregon Rental Property
To learn more tips which you can use to run your rental properties more efficiently, or to speak with us about our Portland property management services, contact Property Management Systems today by CLICKING HERE or calling us at (503) 515-3170.
