By Tonya Storovich
COMPLIANCE
Supplier compliance , what does it mean , why is it important , and how do you accomplish it ?
By Tonya Storovich
It ’ s not that sexy , but it is required . With all the different compliance companies out there may at times seem very overwhelming . Do you recognize these names Yardi , RMIS , RealPage ( aka compliance depot ), Vendor-café , Vendor Depot , and the lists will continue to go on ! These platforms were created to help keep the suppliers and the multifamily community on the same page .
If you look at the list above and your head begins to swim , take heart , once you begin working with them it is a breeze . The first step is having a great insurance agent who can help you navigate through the legal jargon of what is required for your insurance to be “ In Compliance .” Complying means a few things regarding insurance levels . It is based on what you do , what kind of company you are ( onsite services , delivery services , or off-site supplier }, and sometimes what areas you service . This will determine what dollar value you will need to carry on your insurance . Do you have employees , or do
28 | TRENDS MARCH 2024 www . aamdhq . org