Contract Management for Community Associations
If you’ve decided to serve as a Board member for your homeowners or condo owners association, you’re choosing to have an active role in your community. The Board of Directors are responsible for hiring contractors to tend to the community’s needs. With the vast number of contractors out there, you must be cautious about who you hire for the job.
Many self-managed Boards have a difficult time staying afloat if members don’t have experience reviewing vendor proposals or negotiating bids. If your Board doesn’t have this particular skill, turn to Tidewater Property Management for help. We provide contract management services for communities in Maryland, Washington DC, and Virginia.
For help managing contracts and vendor agreements for a beautiful, cost-effective community, please call Tidewater Property Management today!
What Is Contract Management?
A contract is an agreement made between two parties, often for the buying and selling of goods and services. Contract management is the process of managing the terms of the agreement, including the nature and cost of the goods and services, deadlines, deliverables, and more. The goal is to ensure the vendor or contractor satisfies the customer and that payment is made according to the agreement.
Our Contract Management Services for Community Associations
The team at Tidewater Property Management is highly trained and knowledgeable when it comes to contract management. We have years of experience providing these types of services for community associations in Washington DC, Maryland, and Virginia. Our goal is to ease the burden of serving on the Board of Directors by offering our skills in the following areas:
- Assist the Board in soliciting bids: When the need to hire a contractor arises, you must request a bid. This involves writing a general description of the project, including the size, scale, and duration of the job. We can help you write up project specifications and make proposal requests from qualified contractors.
- Identify qualified contractors: Because we have been in the industry for so many years, we know how to tell the qualified contractors from the inexperienced ones. We verify the proper certifications, license, and insurance to make certain you receive the professional results you expect.
- Prepare and submit information packages to the Board concerning competitive bids: Once bids start coming in, we compile a list of the vendors worth considering for the job based on their qualifications, availability, and cost estimates.
- Negotiate service contracts: If we receive competitive bids from several qualified contractors, the opportunity to negotiate can save your community money. We take on this responsibility to ensure you receive the lowest bid on the highest-quality services.
- Maintain vendors on site as needed: Some contractors provide one-time services, and then you never see them again. Others return to your site routinely, including pool maintenance workers, trash collectors, and lawn crews. We manage all the vendors that come and go to free up your time for other tasks.
Schedule Contract Management Services in MD, DC & VA
When it comes to soliciting and comparing bids, identifying qualified contractors, negotiating prices, and maintaining the vendors in your community, no one is better than Tidewater Property Management. Our experienced team knows how to modify our services and offerings to meet your community’s specific needs.
To request help with managing your community’s vendor contracts, please contact Tidewater Property Management today!