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| Providing Community Association Insurance for over 25 years: D&O Liability, Crime Products, Umbrella Coverage and Property Manager's Errors & Omissions Liability. |
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JamesR2
(Maryland)
Posts:5
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| 08/03/2006 3:41 PM |
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| How should our HOA prepare a request for proposals (RFP) for a new mangagement company? What items or issues should we include or consider including in the RFP? Is there a list of "best practices" in management companies and agents? Is there a list of recommended management companies in Maryland? Any help or advice would be appreicated. |
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JosephW
(Michigan)
Posts:787
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| 08/03/2006 9:02 PM |
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Click on the "Resource Library" link above, then "Association Management" when you get to CAN. Start with the article: "Details are Key to Effective management Contracts" and then some of the others. That should help you on the contract.
There is no list of "recommended" management companies, but a place to start is the chapter web sites for CAI. They have a large Metro DC chapter and one in the Baltimore area. Either should have a list of management companies. Here's the chapter list page:
http://www.caionline.org/about/aboutchap.cfm
There are two ways you have to look at management companies. First does the company have the systems and processes (professionalism) to do the job right. In other words, how do they handle both routine and non-routine tasks. For example, how are work orders handled, how long does it take, how often do they communicate with the person who submitted the work order, do they get feedback on the work and what do they do with that feedback? You have to evaluate their systems for each of the processes you want them to handle. The second area of importance is: Who will be your manager? You need to talk to board members of other associations that person manages and you have to meet him or her BEFORE you sign the contract. Does their personality work with your board members? How well do they communicate? Have they shown they can deal effectively with owners? etc. Too often, you find a good management company with good systems, but the specific manager assigned to your account is new, untested, weak, or just doesn't mesh, and everyone ends up unhappy. Try to reduce this risk,
Ideally everyone wants great systems and a great manager, but this rarely exists, or is available when you want them. If you can find good systems and a good manager, you'll proably be happy.
Let us know if we can help some more.
Joe |
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Joseph West
Official HOATalk.com Sponsor
Community Associations Network, LLC
www.CommunityAssociations.net
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RogerB
(Colorado)
Posts:3724
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| 08/04/2006 7:48 AM |
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Joe,
I like your advice. Particularly important is the specific managing Agent assigned to your assocation. Too often a large company sends out the salesperson to make a presentation and will WOW the potential client. But when they get a contract an incompatable Agent is assigned. Board members should demand the Agent who will be assigned to your HOA make the presentation to your Board. One question usually not asked is - how many years can you expect them to be your agent? You want a good Agent who provides continuity from year to year.
On the CAN link I particularly liked the following statement about the Management Agreement:
"Spell out everything, assume nothing, don’t leave any expectation, however insignificant, unstated or unexplained. The goal of the management contract is to state clearly and unambiguously the expectations on both sides, outlining in sufficient detail precisely what the management company is supposed to do and how it will be compensated for the services it provides.
I have viewed Management Agreements that spell out only items which are to the benefit of the MC. When I looked carefully for what specific services they are to provide I found nothing but generalities - no specific services were itemized. Board members need to make sure MC written Agreements are modified to include everything.
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Roger Borcherding
Official HOATalk.com Sponsor
DARCO Property Management (Colorado)
(303) 925-0150 
*See legal notice below (end of page) or go to www.hoatalk.com/legal |
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ClaudC
Posts:0
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| 08/06/2006 7:40 PM |
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| Well we did everything that Joe and Roger suggested and thought that we had successfully found a replacement for the mgmt company from hell. on all the items, the new company and mgr were perfect! References were stellar! Even from other mgmt companies, who weren't taking on condo biz! Well, we are less than happy ;-((, and there are no openings in ANY mgmt companies who are still doing condos that we would do business with ~ since none of the references that the mgmt companies gave us would EVER do biz with those companies again. |
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JosephW
(Michigan)
Posts:787
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| 08/06/2006 8:13 PM |
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I'm sorry to hear that Claud. I could give you a hundred reasons why its getting harder and harder to find a good management company, but that wouldn't help, would it? Looking back, what do you think you missed, or, what happened?
Joe |
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Joseph West
Official HOATalk.com Sponsor
Community Associations Network, LLC
www.CommunityAssociations.net
*See legal notice below (end of page) or go to www.hoatalk.com/legal |
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| You are not authorized to post a reply. |
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