1. Don’t Just Call When You’re Desperate Would you only call your friends when you’re in trouble? Hopefully not. The same goes for your vendors. Don’t just hit them up when it’s an emergency or when everyone else is already calling (i.e., during hurricane season). 🤝 Strong vendor relationships are built before the crisis hits. How to do it: Check in occasionally, even when you don’t need anything. Ask how business is going. Refer them to others when appropriate. 2. Pay Promptly (and Fairly) Want to move to the top of your plumber’s list? Pay on time. Vendors remember who pays quickly—and who makes them chase checks. 💸 Reliable payers get VIP treatment. Pro Tip: Set clear expectations upfront about pricing and payment terms. Consider paying early or tipping for urgent jobs. That little extra can go a long way. 3. Be Clear, Detailed, and Respectful Ever worked with someone who gave you half the information and expected magic? Don’t be that landlord. Provide scope, timelines, and expectations up front. And when your vendor is on site, treat them with respect—not like a servant or just “the help.” 🛠️ Good communication saves everyone time (and money). How to do it: Use photos, measurements, and clear instructions. Be available to answer questions quickly. Respect their professional opinion. 4. Don’t Nickel-and-Dime Your People We get it—you’re running a business. But don’t burn bridges over $25. If a vendor consistently does quality work, don’t haggle every time. The goal is value, not always the lowest price. 💼 Cheap labor is often the most expensive lesson. Pro Tip: Pay attention to the quality of work over the quote. If it’s done right the first time, it’s cheaper in the long run. 5. Show Appreciation A thank-you text, a holiday card, a coffee gift card—simple gestures go a long way in building loyalty. Your vendors are juggling multiple clients. Make sure you're the one they enjoy working with. 🎁 People remember how you made them feel. Bonus: Create a "Preferred Vendor List" and feature them on your website or social media. Shouting them out can boost their business and strengthen your relationship. The Vendor Circle of Trust In real estate, your vendor relationships can make or break your operation. Great vendors help you turn units faster, prevent costly repairs, and keep your reputation solid with tenants. So treat your vendors like partners—not just service providers. Invest in the relationship, and you’ll be rewarded with a dream team that helps your portfolio grow stronger every year. 💬 Want a copy of my go-to Vendor Agreement template or sample Service Request form? Subscribe now at www.TheBIGLandlord.com and get access to free tools to level up your rental business today.
Stepping into the landlord game can feel like you’re finally on the winning team—steady cash flow, property appreciation, and the power to build generational wealth. But without the right knowledge, it’s also easy to fumble the bag. Whether you're managing your first rental or thinking about becoming a real estate investor, avoiding these rookie mistakes can save you serious time, money, and stress. Let's break down the ** Top 5 Mistakes New Landlords Make—**and more importantly, how to dodge them like a seasoned pro. **