Must-haves you look for when hiring a PM/CAM

Those are good things to consider. You want someone who will be able to devote the time needed to run the community's daily operations and if the person has several communities, that could be a problem, depending on how extensive the needs are for the other clients. So, you might want to ask about things like what type of support system they have, such as a secretary who can take messages ir refer maintenance requests to tge appropriate department.

Our property manager helps us draft the annual budget, keep track of delinquencies, runs reports like monthly income/expense, and store documents that go into our permanent records. That used to be in one's on an off site location, but I think that's being converted into cloud based storage.

The more you want the property manager to do, the more it will cost, so start with your documents and see what the association is required to do. In addition to cloud based storage, I'd look for companies who could do periodic walk or drive through to check for common area repair needs - most homeowners don't notice until it affects their homes and then it's a gigantic and expensive mess. If you can, consider subcontracting some of tbe work to save money, such as hiring a handyman for small projects, or a website manager who could keep it updated for you. Companies who have online services where you can upload exterior change requests with supporting documents or reserve the clubhouse for a party can save everyone time, which can ultimately save money.

While you're reviewing financial services, don't forget to ask about internal controls to prevent waste and embezzlement. They may have some protocols, but you should ask if you can add some of your own. Ask about insurance or bonds that will enable the association to file a claim if a property manager's conduct was discovered to be illegal and cost the association lots of money.

For that last one, you may want to check out the ProPublica website which recently ran a story on Colorado HOA management companies and the fraud that's resulted in financial disaster for the communities they were supposed to serve. I posted the link in a conversation on this website a few weeks ago and it might still work. - otherwise Google it.

You have no idea of the depth of emotions and feelings you still within me by asking this question.

Our PMC was recently acquired by a new, larger PMC. There have been 'hiccups' but it's mostly been a positive experience. But even before that happened, we were seriously pondering dumping our PMC, and doing some thinking about what we really wanted and needed from a new PMC.

I'll spare you the long version, but in short:

- Some kind of software portal that residents and the Board can use to access information about Violations, ACC, Financials, etc, is a definite plus.

- But perhaps the most important thing - for us, at least - is ensuring that our Portfolio Manager is accountable for the tasks they are given. Our previous PM was a nightmare: she'd agree to do something, tell us "I'm on it!", and as soon as the conversation was over she'd forget every bit of it. Complaining did no good. When the new PMC came in, we had this huge list of unresolved / blocked items (that we're finally managing to resolve). Not to mention stuff that just got 'lost' (on another thread I ask advice about a possible foreclosure, where the PM had ignored the law firm's 5+ attempts to contact us over the course of 3.5 months. And so we just became aware of the matter a few days ago).

We were on the verge of moving to some kind of problem ticket tracking system - but then the new company came in and so far we've been fairly happy with how they've treated us. But to you I'd say: having a reliable, trustworthy Portfolio Manager should be a major priority.

BillD