Management Companies

Started by RickW • 4 replies • 4100 views

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RickW (Illinois)
Posts: 169

Posted:

If a HOA Board wanted to look into changing management companies, would there be a resource to look at giving us some sort of checklist of services and questions to ask regarding property managers?
Thanks

RogerB (Colorado)
Posts: 5,067

Posted:

There is a tremendous variation in cost and quality of services of Management Companies. Get competative bids based on a RFP which lists specific services your HOA desires. You may want to consider requesting a detailed breakdown of the cost for each service you may want to consider. Follow this up by interviewing two or more of the best bids. And interview the actual person who would become the Managing Agent. There are many key questions which should be asked.

Steve (Virginia)
Posts: 2

Posted:

The Community Associations Institute (CAI) has many available resources, some specifially will help in finding and selecting a management company. You will find the Institute at www.caionline.org.
Steve

RickW (Illinois)
Posts: 169

Posted:

Thanks for the help. I will check out the website later tonight. I realize there are many key questions to ask and review, just want to make sure I cover them all!

EllieT
Posts: 3

Posted:

make sure your property manager passes the money decison to all th e board memebers in a formal board meeting. Otherwsie, things may cost you a lot more than they should.

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