Frequently Asked Questions

Vendors are on-site everyday performing necessary services to upkeep your managed communities. While performing their various services, vendors pose risk to the properties and owners. When accidents occur, it is essential to know that the vendor’s policy will cover any losses. Proper vendor vetting protects against undue costs being absorbed by the management company and the community’s insurance policies.

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When a vendor arrives on site, the client assumes the vendor has proper insurance. Management companies are entrusted with this assumption. When an accident happens and a vendor’s insurance is needed to pay for losses, holes in the management company’s vetting process may be exposed.

Insurance is one of the most important components of a community’s budget. The loss run of the association, in a large part, determines the cost of the insurance policy to the community. Preventing losses from vendor interactions is an essential strategy to keeping loss runs low and association dues competitive.

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VIVE offers to our clients a licensed risk management team that specializes in the property management industry. Additionally, VIVE’s leadership features management company ownership background and multiple management software solutions supporting the management industry. This specialized and unique leadership brings real world experience with supporting management firms and the communities they manage.  Read more about us.

VIVE’s vetting process also allows management users to rate the vendors within VIVE. Ratings are a great way for management firms to pass along vendor experiences for future selection purposes. Ratings within VIVE bridge the gap for managers working in a fast pace environment to obtain useful information about a vendor within their office co-workers.

VIVE offers a powerful, yet simple solution to offer out RFP’s to vendors. Quickly source vendors within your vendor pool to offer out bid opportunities within the application. Additionally, contracts can be stored to manage renewals and provide accessibility view at any given time.

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