Magazine article Journal of Property Management

To Give or Not to Give?

Magazine article Journal of Property Management

To Give or Not to Give?

Article excerpt

Vendors and contractors from all venues providing services to property managers and their portfolios may ask that question of themselves. But, is that really the question IREM Members would like to ask? The question real estate professionals might want to ask of vendors may be a bit more targeted. And perhaps that question may more appropriately be asked in two parts: Why do vendors give gifts and what do vendors expect in return?

But let's not get ahead of ourselves here. Let's lay some groundwork first.

100 percent of the many vendors I checked with while doing research for this article indicate they do give gifts to directors of property management, asset managers, property managers, assistants, engineers and others involved in the business of managing real estate. Though I would never reveal sources, I will mention that I checked with several vendors in each of the following service provider categories: janitorial, porter/maintenance services, parking lot sweeping and repair, construction, tenant finish, landscaping, mechanical, elevator, lighting, roofing, security and catastrophe clean up.

The answers to each question were equally divided. The same number answered No as answered Yes to both of those questions.

And when I delved a bit deeper into that area, more than half of the respondents would not give a gift to a person if they currently had a bid/proposal out to that person. That same majority stated that it might be perceived as a bribe and felt it was definitely an inappropriate action during an active bidding process. And, interestingly enough, the vast majority also did not give gifts after they had just received a contract or a new job.

GIVING AND RECEIVING

So why do vendors give gifts, and what do vendors expect in return?

Every single respondent indicated, quite simply: "to say thanks and to strengthen our relationship. …

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