by Kevin Adam, Chief Financial Officer
Our In Good Company (IGC) program coordinates a select group of outstanding companies to get better service and pricing for our associations. A vendor selected for the program has more rigorous requirements than those we require of all vendors who work with us. The IGC vendors are high quality companies that share our goals, values, and mission. To learn more about the program, click here.
From time to time, we receive questions from vendors and associations regarding our IGC program. Some of the most frequently asked questions are addressed below. If you don’t see an answer to your question, feel free to contact us.
Who benefits from the program?
Associations benefit by receiving project bids from the best vendors with pre-negotiated concessions. This allows the Association to start their contract negotiation from a stronger position. From this arrangement, LMS expands on its reputation for offering value-added services to communities.
How does the Vendor benefit from the program?
A vendor that has been accepted into the program will be included in most bids for their specific category of service. Additionally, any training or promotional material that is of value to our Property Managers will be distributed to ensure that our staff is familiar with the services and value that each IGC vendor offers.
Is IGC a preferred vendor program?
No. A preferred vendor program often requires vendors to “pay” the management company to be included in the bidding process, but LMS does not charge vendors a fee to bid on projects.
Are the IGC contracts customizable?
Yes. Each IGC contract is fully negotiated between the vendor and the Association’s Board of Directors. If a program offers a master contract, then there is a disclosure notice and each property will still have their individual contract.
How many vendors do you allow in the IGC program?
We only select one vendor per category, and only if the vendor is in an area of expertise where LMS’s volume of work will entice a vendor to offer lower prices or additional services.
Does anyone review the IGC vendor’s performance over the year?
Yes. I personally view vendor ratings and contract commitments several times a year. I reach out to several Property Managers who have selected the IGC vendor to ask their personal experience. I also contact the Property Managers that have not selected the IGC vendor to find out why the Board moved to another provider.
Are you worried that you’ll lose other vendor relationships because there’s a current IGC vendor in their industry?
Not in the slightest; we need to maintain multiple vendor relationships because one vendor simply won’t fit every kind of situation. The boards ultimately award the contract and will not choose IGC vendors all of the time.
Two years into the IGC program, and 40 years into many of our business relationships, we’re proud of our healthy, competitive vendor environment. We’ve worked with over 3,500 and just six of those companies are currently IGC vendors. Lieberman is pleased to offer this program as a way to continue to offer extra value to our Associations and vendors who are our most trusted partners.