Request for quote (RFQ)

A request for quote (RFQ) is a formal document used to ask vendors for pricing on specific goods or services with defined specifications. In multifamily operations, an RFQ is typically used when the scope is clear enough for vendors to provide comparable prices. It differs from a broader proposal process because the focus is primarily on quoted pricing for a defined need.

A regional maintenance director needs pricing for annual landscaping at five apartment communities. The team sends an RFQ that lists the properties, service frequency, required insurance, scope details, and response deadline so vendors can submit comparable quotes.

RFQs help operations leaders compare vendor pricing in a structured way, reduce ambiguity in scope, and create a clear record of the sourcing process. They are especially useful for recurring property services, capital projects, and maintenance work where specifications can be defined upfront.