Vendor Management Checklist
Ensure compliant and profitable real estate projects! Download our free Vendor Management Checklist - streamline selection, onboarding, performance tracking, and risk mitigation for contractors, property managers, and more. Avoid costly errors and build a stronger vendor network. #RealEstate #VendorManagement #Checklist #Contractors #PropertyManagement
This Template was installed 4 times.
Vendor Identification & Onboarding
Initial identification and formal onboarding of potential and selected vendors.
Vendor Name
Vendor Contact Person
Vendor Category (e.g., Property Manager, Broker, Contractor)
Estimated Annual Spend
Date of Initial Contact
Vendor Profile/Company Overview Document
Initial Business Need/Reason for Engagement
Initial Risk Level (Based on initial assessment)
Due Diligence & Risk Assessment
Thorough investigation and evaluation of vendor capabilities, financial stability, and potential risks.
Vendor Annual Revenue (USD)
Financial Stability Rating (e.g., Dun & Bradstreet)
Description of Key Personnel & Experience (Relevant to Real Estate)
Copy of Vendor's Business License(s)
Areas of Real Estate Expertise (Select all that apply)
Summary of any past legal disputes or claims (and resolution)
Cybersecurity Risk Assessment Result (Vendor Provided)
Date of Last Financial Review
Contract Negotiation & Execution
Defining scope of work, pricing, performance metrics, and legal terms; ensuring proper contract execution.
Scope of Work Definition
Pricing Structure (Fixed Fee, Hourly, etc.)
Total Contract Value (USD)
Payment Terms (Net 30, Net 5, etc.)
Contract Start Date
Contract End Date
Performance Metrics & KPIs
Vendor Insurance Certificates
Company Representative Signature
Performance Monitoring & Reporting
Tracking vendor performance against agreed-upon metrics and regularly reporting on findings.
Overall Performance Score (1-10)
Summary of Performance against KPIs
Service Delivery Adherence (on time, complete, accurate)
Number of Incidents/Issues Reported
Description of Significant Incidents & Resolution
Average Response Time to Issues (hours)
Client Satisfaction (based on surveys/feedback)
Date of Last Performance Review
Relationship Management & Communication
Maintaining open communication, addressing issues proactively, and fostering a collaborative vendor relationship.
Frequency of Scheduled Check-in Meetings
Summary of Last Communication with Vendor
Current Relationship Status
Notes on Vendor's Proactive Communication
Date of Last Relationship Review Meeting
Topics Discussed in Recent Communications
Primary Contact Person at Vendor
Compliance & Insurance
Ensuring vendor compliance with relevant regulations, licenses, and insurance requirements.
Vendor's License Type (e.g., Real Estate Broker, Appraiser)
License Expiration Date
Copy of Vendor's License
Insurance Type Required
General Liability Insurance Coverage Amount (USD)
Certificate of Insurance (COI)
COI Expiration Date
Notes on Compliance/Insurance (e.g., specific endorsements required)
Renewal & Termination
Planning for contract renewals or termination based on performance and business needs.
Contract Renewal Date
Contract Term (Years)
Renewal Decision
Justification for Renewal/Termination Decision
Number of Issues/Complaints (If Applicable)
Summary of Performance Issues (If Applicable)
Termination Effective Date (If Applicable)
Termination Communication Details (who, when, what was said)
Supporting Documentation (e.g., performance reviews, termination letters)
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