Vendor Selection

Invicta Property Management adopts a multi-faceted approach to vendor selection and interaction, divided into two main parts:

Part 1: Selection of Vendors

1. Rapport and Customer Feedback: Invicta prioritizes vendors who have established a good rapport and have positive customer feedback. This approach helps ensure that the vendors are reputable and reliable.

2. Compliance Requirements:

   • W-9 Form Submission: Vendors must submit a W-9 form, which is essential for tax purposes.

   • Proof of Licensure: Vendors need to provide evidence of their professional licensure, ensuring that they are qualified and authorized to perform the required services.

   • Certificate of Insurance: This requirement ensures that the vendors have adequate insurance coverage, which is crucial for mitigating risks associated with property maintenance and repairs.

Part 2: Interaction with Vendors through Invicta's Operations Team

1. Oversight by Operations Team: The operations team at Invicta oversees all maintenance aspects of the properties, ensuring consistent quality and efficiency.

2. Local Sourcing for Better Logistics and Knowledge: Vendors are sourced locally, which offers two main benefits:

   • Improved logistics due to proximity.

   • Enhanced understanding of the specific neighborhoods, leading to better service delivery.

3. Addressing Vendor Challenges: Recognizing that vendors may face certain challenges such as incomplete information, tenant-relations issues, or cleanliness standards, Invicta has specific measures in place:

   • Assignment of Work Orders to Operators: Each work order is assigned to an Invicta Operator.

   • Roles of Operators: These Operators are responsible for:

     • Overseeing the work carried out by vendors.

     • Ensuring the quality of service.

     • Maintaining tenant satisfaction.

     • Securing necessary documentation post-service.

4. Quality Control and Tenant Satisfaction: The involvement of Operators is key to maintaining high standards of quality and ensuring tenant satisfaction.

This structured approach helps Invicta Property Management maintain a high-quality service standard across its property portfolio, leveraging local expertise and stringent compliance, while also addressing potential challenges in vendor operations.