SueL10
Posts: 1
Posts: 1
Posted:
How often, on average, does an HOA send out RFP's? My HOA has had the same property management firm for 16+ years. I wonder if that is fiscally sound. I don't know when was the last time there was an RFP.
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TimB4 (Virginia)
Posts: 20,986
Posts: 20,986
Posted:
Sue,
There is no requirement I know of that specifies when request for proposals (RFP) should be sent. However, in my opinion, it should be done 6 months prior to the end of each contract's renewal date.
Tim
There is no requirement I know of that specifies when request for proposals (RFP) should be sent. However, in my opinion, it should be done 6 months prior to the end of each contract's renewal date.
Tim
DavidW5
Posts: 561
Posts: 561
Posted:
Quote:
Posted By SueL10 on 07/10/2012 8:21 PM
How often, on average, does an HOA send out RFP's? My HOA has had the same property management firm for 16+ years. I wonder if that is fiscally sound. I don't know when was the last time there was an RFP.
How often, on average, does an HOA send out RFP's? My HOA has had the same property management firm for 16+ years. I wonder if that is fiscally sound. I don't know when was the last time there was an RFP.
Sue,
Just because you have had the same property manager for 16 years doesn't mean there have been no RFP's. When the contract term is close to expiring, an RFP should be issued to determine if there is a better source out there. If the incumbent contractor wins the competition each time the contract is re-competed over those 16 years, so be it. If, in fact, the contract for your property management services has not been re-competed over a span of 16 years, then, yes, it is high time to do so.
JohnC46 (South Carolina)
Posts: 14,230
Posts: 14,230
Posted:
Were I happy with the performance of a contractor, I would consider extending the contract without RFP. I might even consider signing more then a one year contract but I would be real hesitant going longer then two years no matter how happy.
Also short of an RFP, it would be wise to have a fact/figure investigation done to determine if an RFP should be issued or maybe just renegotiate with the current supplier.
Also short of an RFP, it would be wise to have a fact/figure investigation done to determine if an RFP should be issued or maybe just renegotiate with the current supplier.
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