Guide
How Property Managers Get Three Bids Without Chasing Contractors
Many owners, lenders and management agreements expect three bids before larger work is approved. The hard part is rarely finding three names. It's getting three responses that price the same scope, by the same date, so the comparison means something.
1. Write one scope before you call anyone
Every contractor should price the same written description. Include what needs doing, the result you want, approximate size or quantities, the age and condition of what's there, access limits and when the work should happen. If you don't know a quantity, say so and ask each bidder to measure it. Our guide to writing a scope of work covers this in detail.
2. Invite more than three
Some contractors won't respond, and some will decline because the job doesn't suit them. Inviting five or so gives you a better chance of ending up with three real numbers. Make it easy to say no, because a fast no is more useful than silence.
3. Set a date and one point of contact
State when you need quotes and who answers questions. If one bidder asks something that changes the scope, send the answer to all of them so the bids stay comparable.
4. Plan site visits together
Most trades need to see the property before they'll commit to a firm price. Offer one or two time windows instead of arranging a separate visit for each contractor, and give residents or tenants the notice your lease requires.
5. Compare scope first, then price
Put the bids side by side and check what each one includes, excludes and assumes. A low number that leaves out disposal, permits or repairs to what's found underneath isn't really the low bid. Our guide to comparing contractor bids gives a method.
6. Keep the record
Save the scope, each bid and a short note on why you chose the winner. That file answers the owner's or auditor's questions later, and it gives you a starting point the next time the work comes up.
Getting the bids with BidCraft
Describe the job at BidCraft's quote request page and give an email for receiving bids. BidCraft looks for local contractors, shows you who it plans to contact and sends you a link. Nothing goes out until you click it. Then BidCraft asks up to five contractors for quotes on your behalf, and you track the responses on one page.
Contractors see the job description, your city and any company or property name you choose to give, but not your email. BidCraft finds many contractors through public listings and doesn't verify their licenses or insurance, so check those before you award the work.
Frequently asked questions
Do I always need three bids?
It depends on your management agreement, your lender and your owner's rules, so check what applies. Many set a dollar threshold, and emergency repairs are often handled differently.
What if I only get two bids?
Record who you invited and how they responded. Then ask the owner whether two is acceptable or whether you should invite more contractors.
Should I share my budget with bidders?
That's your call. Many owners keep it private so that it doesn't anchor the price. BidCraft doesn't show its estimate to contractors.