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Considering Changing Property Management Companies?

Community property management companies can assist the Home Owners Association (HOA) in finding contractors and with collection of fees and assessments, and also offer training and seminars for the HOA board and its members. They provide education about maintaining the residential areas and offer guidance on how to run an effective HOA. They can also help answer the questions HOAs have about the bylaws and local regulations that may affect them.

How do you know when your community property manager is becoming a liability? Make sure you don’t miss any of these warning signs. You always have the option to fire community managers or address the issue in some other way. Whichever the case, swift action is a must if you see any of the following.

However, in my experience, it's time to change your management company if your property manager exhibits any of the following signs:

  • DOES NOT COMPLY WITH MANAGEMENT AGREEMENT
  • UNBECOMING BEHAVIOR OR OUTRIGHT DISRESPECT
  • LACK OF COMMUNICATION
  • RECEIVING FEES OR KICKBACKS FROM VENDORS
  • LACK OF FINANCIAL TRANSPARENCY
  • The following article explains in more detail how to find your best property management company: CLICK HERE.

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