Take it From NFL Quarterbacks: Be Thankful for Your Vendors

 

“…the Chiefs quarterback opted to go big with his show of appreciation for his offensive line with this year’s presents.  Mahomes hooked up his protectors with sets of TaylorMade golf clubs, complete with custom bags featuring their jersey numbers and a box of balls for good measure.”

(Nick Selbe in Sports Illustrated: 12/21/22)

 

“Hi, I'm Dan Marino, and if anyone knows the value of protection, it's me.  So I take care of the hands that take care of me with Isotoner gloves.”

(Ace Ventura 1994)

 

“Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you.”

(1 Thessalonians 5:16-18)

 

Every year I see articles talking about what Christmas presents NFL quarterbacks give to the members of their offensive line (typically around 10 guys).  Looking at past gifts from the quarterbacks below, they seem to be pretty nice items and run the gamut:

 

Mac Jones (New England Patriots): Bitcoin

Carson Wentz (Indianapolis Colts): Bourbon, some meats, & Yeti coolers

Jalen Hurts (Philadelphia Eagles): Louis Vuitton travel bags

Dak Prescott (Dallas Cowboys): Air Jordan 11 Retro sneakers

 

These are not cheap gifts.  When your livelihood (and long-term health!) depends on these offensive lineman preventing defenders from taking your head off, it is imperative to make sure they know they are appreciated.  And now all the starting quarterbacks in the league make it a point to give nice gifts to the guys that try to keep them upright every game.

 

On that vein, I was listening to a video the other day and the instructor was talking about running a property management company.  He reasoned that the main component of success was the ability to retain tenants; then he began his discourse into specific reasons why tenants did not re-sign their leases.  The #1 reason, by far, was that repairs were not completed in a timely fashion.  He argued that fixing things promptly is the silver bullet to keep tenants.  Landlords can try other things like offering gift cards or flat screen TV’s as lease re-sign bonuses, but they offer little benefit if a tenant’s heating system hadn’t been functioning for 3 weeks the previous winter (like a now ex-neighbor told me recently had happened to him).  To his point, most dissatisfied tenant’s Google reviews against property managers stem from delayed repair resolutions.

 

How does a landlord avoid lingering repair issues?  First of all, work orders must get off the landlord’s desk and be directed to the appropriate vendors ASAP.  Then, it’s all about vendor quality that will drive tenant satisfaction and property management success. 

 

So, the lesson is… hire great vendors!  Hire vendors who care.  Hire vendors that realize that having the heat go down on a Friday afternoon means that it is going to be an awful weekend for the tenant if the work order is pushed until Monday.  I’m amazed (and thankful!) that many of our vendors voice disappointment when they can’t get there the same day or a repair they made didn’t hold.  They have empathy that it could be their families who are shivering at night or have no working plumbing.  It takes a servant’s heart to put someone else’s family before your own.

 

Once a landlord finds these core, caring vendors and puts them to work, it is time to play the role of the thankful NFL quarterback.  I’m not sure that necessarily means Louis Vuitton travel bags or TaylorMade golf club gifts (maybe some Isotoner gloves?), but I’d recommend the following four things we try to give our vendors:

 

1. Loyalty: We give most of our business to our best vendors and keep it there
2. Payment: We make sure invoices are paid consistently, in full, and when expected.  They should be able to worry about their jobs, not exerting energy to collect due funds from us.
3. Grace: Everyone messes up from time to time.  Taking off people’s heads for honest mistakes isn’t going to help anyone.  And when you do this long enough, you know that grace is a two-way street. 
4. Thankfulness: Let them know how much you appreciate their effort on a day-to-day basis.  We all like to feel like what we do is noticed positively.

 

NFL quarterbacks may have millions of dollars to shower their guys with Bitcoin “thank you” gifts, but sometimes the smaller gestures above can go even further.  Give thanks and take care of the hands that take care of you!

 

Have a wonderful Thanksgiving & Happy Landlording!