In the midst of global change, now seems like the right time to reflect on current business operations and on your supply chain.
Having the right team, internal and external, will help to future proof business performance in uncertain times.
I challenge you to pause and think about your supply chain.
- What are the most important things you want from your supply chain?
- Are you looking for strategic partnerships or the cheapest ‘off the shelf’ operator?
- How do you view each service; as a commodity, or could it enhance your offering?
- What are the tangible and intangible benefits, from using the suppliers you do?
- Are you most comfortable building a peer to peer relationship or following a parent/child model with your suppliers?
- Are your company values important to you, do they live and breathe in your ‘everyday’ in work? Are these values consistent with the values of your supplier?
We have 20+ years experience of working with the largest corporate landlords, to the smallest independent letting agents and have observed which approach works best.
No size fits all and to get the most out of this exercise, you have to be 100% honest with yourself.
If you subscribe to the whole life costing model of BTR, then chances are, you are more comfortable building longer term relationships with your supply chain.
This approach follows the same principle; to generate optimal returns over the life of the development, you invest with focused intent at the start.
Finding the partners that are right for you and how you work, will generate exceptional returns over time, in a smooth and tight running partnership in the years ahead.
On property inspections, having the right property reports from Day 1 protects your development, the tenants deposit, and your reputation. You can then enjoy peace of mind in the years to come when the building is not so new and sparkling.
If being tenant centric is part of your mantra, then you will be interested to know that when we recently surveyed over 500 tenants, less than 10% of tenants want their landlords to carry out their property inspections.
Whilst you work hard to build trust and a community spirit with your tenants, in this particular area, independence is key.
A DIY approach to reporting boasts upfront savings and but ignores ‘whole life costing’ of the development that will leave you exposed when you most need the protection of an independent inventory report in the years ahead. Taking the professional approach of employing the services of an independent specialist, demonstrates best practice and further helps to build trust with tenants.