Monitor & Control External Processes

ID Number: RE-008

1. Inputs

  • External processes (such as property manager processes)

2. Steps

  1. Confirm that external products and services meet requirements.

  2. Control your externally provided processes, products, and services.

  3. Use checklist of criteria to select, evaluate, & monitor external providers.

3. Checklists

Select Property Manager

  • ❏ Proximity to our property

  • ❏ Referrals (from local insurance agent)

Caution
 Pay attention when the property management company changes ownership or management.
Select Property & Casualty Insurance Agency

  • ❏ Proximity to our property

  • ❏ Referrals (from local insurance agent)

Monitor Property Manager

  • ❏ Review digital photos of property damage and repairs (before & after)

  • ❏ Review repair quotes from property manager

  • ❏ Observe how long it takes them to find new tenants

  • ❏ Monitor tenant turnover as an indicator of property management performance

Monitor Property & Casualty Insurance Agency

  • ❏ Review policy terms and due dates

Evaluate External Providers

  • ❏ Our satisfaction - Ease of doing business

  • ❏ Responsiveness

  • ❏ Performance - They do what they say they will do consistently

  • ❏ Conformity - They meet requirements

  • ❏ Reasonable costs

4. Outputs

Met requirements.

5. Revision History

Date Revision Description

2019-12-24

1

Initial

Updated on 24 Dec 2019

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