first contact with prospective MC

When making the first contact with prospective property management companies, what questions should we ask, and what information should we have them email to us?
When we invite them to an interview, what should we ask them to bring for us, and what whould we have on hand to show them?

This is what we have so far:
Are you bonded/licensed?
Do you have fidelity bonds or insurance that will cover you in the event of any theft or dishonesty by HOA officers or employees.

Ask prospective management companies to email
a list of their services and costs
Their contract
describe their money handling procedures
Accounting procedure and software
What do you see as your duties in the HOA?

Too much? Not enough? What else?

JC3 - Just a few items as follows:

1) Ask for a list of the associations that each of the competing MCs currently manage
2) Advise the MCs of the meetings your Board holds and request their attendance at each.
3) If you really want to avoid unilateral Board member control require the MC seek the Association's President approval prior to any major actions taken but that approval must be given the green light by the written decision of a quorum of the Board with all Board member vote either way. Define major actions.
4) Require they are fully briefed on your governing documents and ask what laws or statutes in your state supersede, and or apply to your HOA?

With respect to the fidelity bond. Unless you are additional named insured on the management companies fidelity bond, their bond only protect the owner of the company from theft by his employees, it doesn't protect you. You should have your own fidelity bond or crime insurance that covers the association from theft by anyone.

Other questions, meet the specific management team that will handle your account, manager, assistant, bookkeeper, etc. Make sure you're comfortable with them. Find out what other associations they're managing. Will adding you to the mix overload them? Are their clients satisfied with their work? What's their background and education? Are they working toward certification in the management industry? (in other words, are they working to improve themselves? Certifications doesn't necessarily make them better managers, but it usually means they're serious about their career)

How automated is the company. The less automated, the more labor-intensive and more costly - also the more upheaval if someone leaves. Are basic tasks handled so that there are fewer chances of slipping through the cracks. Do they have a web site that will handle work order submission; requests for re-sale packages; rule violation issues; architectural control submissions; complaints; etc. Can owners track progress on-line? How are reports of this activity provided to the board?

Who is going to communicate from the board to the manager? The fewer board members that directly communicate with the manager, the fewer chances for miscommunication or mixed communication. In between board meetings only one or at most two should give specific directions to the manager. Conversely, is there a supervisor between the manager and owner that you should talk to first if you are having problems?

What are the additional costs and how are increases in these costs handled? Things such as copies, postage, payment coupons, re-sale packages, etc. What does the association pay and what is billed directly to the owner? If the cost increases, how soon before it increases to you (immediate or next contract?)

Remeber that management companies base their pricing on an estimate of the TIME it is going to take to handle your account by the management team, plus a piece for office overhead and profit. The only way to impact the cost is to reduce the time spent on your account. The more you want, the less organized you are, the more it is going to cost.

Joe

What is an "RFP"?

I made a list of questions for the first contact, and made a call.
Then I revised the list a little, to make it easier.

My question now is this:
This company has several agents. The agent I talked to has a few years in time experience, but has dealt with only 2 hoas, one of which is a condo. Both are smaller than my hoa. He indicated that the other agents have more associations and possibly a few of our size.

Is it unethical to ask to talk about the management of our association with another of the agents in that office? How does the management co determine who gets the account? Does the call go to the agent in the office at the time, the next one in line, what?

I'd prefer having/we want someone with more experience that one condo and one hoa.

JC3: Donna is correct; if you don't like the agent assigned to you, ask for a new one. It is the association's money, and the Board has the right to work with a manager who they are compatible with.

It is normal for an agent to be assigned to you and to work with that specific agent for everything. That's not to say the agent doesn't also get input from other agents in the company for a particular situation. One thing you want to ask is when one calls the agent, does the agent usually just have the call go to the answering machine and, will they try to make a call back the same day.
It's important for the agent to have same-day or next-day accessibility in a situation involving Board and residents.

I definitely would meet with the agent which may be assigned to you to get a feel for their professionalism and if they will meet the needs of your association. You are manned now with questions for them, and if they can't answer, that would be a red flag. Also, try to propose hypothetical situations for them re 'how would they advise the Board in this...' to learn of their experience and willingness to find a solutions when necessary.