property management companies

Started by MelJ • 1 replies • 1716 views

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MelJ (Pennsylvania)
Posts: 7

Posted:

we are seeking a property management company for our HOA, we have a meeting with a couple differant companies tonight, any suggestions on what to ask? Any problems anyone has experienced with a Management company that could help us..

TimB4 (Tennessee)
Posts: 21,062

Posted:

I expect that prior to the meeting the Board has specified exactly what they want the management company to do vs. asking the management company what they will do. Keep the Board in the drivers seat. I've voiced my personal opinion before but will again - never allow the management company to have signature authority on any checks. The Board should still pay all the bills. The MC can collect and track assessments,and make deposits without being on the account.

Always ask for current properties that they are managing and the Board Presidents contact info (so you can follow up on references).

Look for issues in proposed contracts, like right of cancellation, termination fees, etc.

Tim

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