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| IHG Insurance (National Insurance Provider) |
| 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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RobertG
(Arizona)
Posts:396
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| 08/10/2006 1:42 PM |
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We are interviewing potential companies to manage our property. Does anyone have something like a checklist that might be useful in rating each company. Most seem to say the same things in the their proposal, but there has to be a way to rate each to come up with the best. Are there some good questions to ask? Any insights would be helpful.
Thanks. |
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RogerB
(Colorado)
Posts:3725
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| 08/10/2006 8:07 PM |
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Robert, As you said proposals tend to say similar things with the exception of costs. And since most RFPs do not provide sufficient details on services needed, and are in some manner ignored in bids, variations may be very difficult to normalized for cost comparisons.
I would start with an RFP and from the responses I would select the top 3 companies to interview. I would require interviewing the Agent who would be the managing Agent - not a "salesman". During a 30 minute interview I would start with the Agent giving a 5 minutes introduction to get a feeling for the person who you will have to work with. Then allow up to 15 minutes for Board members to ask questions and about 5 minutes for the Agent to ask questions. The last 5 minutes can be used to finalize any "loose ends". Ask for a copy of their proposed contract which will include the final services you desire and their costs for these.
Some questions to ask a prospective Managing Agent are:
1) How many years have you been a Managing Agent?
2) What is the average timeframe you have remained as the Agent for each of the HOAs you have managed?
3) How many HOAs do you currently manage?
4) What percent of all homeowners accounts are currently delinquent?
5) How many of times have HOAs you manage been involved in litigation for delinquent accounts?
6) Explain in detail how you inspect, document, and handle violations of restriction.
7) How many times have the HOAs you manage been involved in litigation for violation of restrictions?
8) Explain in detail your money handling procedures and your financial reports.
9) Explain my fiduciary duties as a Board member (this or a simialr question should be asked to give you some indication of their knowledge and willingness to provide guidance to the Board on important matters).
Some questions the Agent may ask are:
1) Why do you want to change your Managing Agent?
2) How long has your current Agent managed the HOA?
3) How long has your HOA employed that Management Company?
4) How many units in the HOA?
5) How often are assessments paid?
6) How often do you hold Board meetings and for how long?
7) How often do you want inspection of the HOA?
8) What common areas and amenities does the HOA have?
9) Do you comply with and enforce your controlling documents and laws?
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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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DavidV
(California)
Posts:1
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| 08/13/2006 4:55 PM |
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One more:
What do you/your company provide to maintain good communication between the yourself, the HOA board, and the community?
aka. Does the manager manage a website or a put out newsletter, or does the manager feel that it's the board or a committee's responsibility to handle the communication. |
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RogerB
(Colorado)
Posts:3725
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| 08/13/2006 8:27 PM |
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David, prompt and personal communication are extremetly important to DARCO. It is the responsibility of the Board to set policy on communications. Our contracts provide for communications with any Board member and any owner at any time. We create newsletters, receive and send emails and phone calls, provide and administrate web sites, whatever the Board wants. Following is an email sent out a couple days ago which is applicable in the Denver area.
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Dear Homeowner,
Your association had a team walk the subdivision this week to inspect its condition. Thank you for doing a good job of maintaining your property. Some properties do need minor maintenance. These were mainly landscaping problems including weeds in the grass and in flower beds, fungus problems including brown patch and necrotic ringspot, and dead trees.
While I am not an expert in lawn maintenance following are some thoughts. To correct fungus in the grass you can consult with a lawn care company or buy a systemic fungicide to spray affected areas. To control aspen sprouts growing in the lawn there is a spray called sucker stopper which I purchased at the Big Tool Box. For owners with dead trees I can assist as requested in providing a tree removal company which is very reasonable.
Dry soil during the past winter stressed the grass. Several lawns had dead grass this Spring due to mites. Lawns getting more sunshine are more susceptible to damage. This can not be promptly corrected by later water and fertilizer; new turf sod or reseeding is necessary. Mite damage can be prevented by winter watering and using an insect spray such as kelthane when applied by March. To maintain a healthy lawn during the growing season a lawn fertilizer with weed and insect control can help. Also spray and/or pull the weeds. Watering in the early morning rather than in the evening allows grass to dry. Necrotic ringspot is exacerbated by too much water and by using fertilizer high in nitrogen (28-30%). A fertilizer high in potash and low in nitrogen may help.
Again, thanks for maintaining your beautiful subdivision. Your efforts to maintain and improve property values are appreciated.
Thank you,
Roger Borcherding.
Managing Agent
P.S. The following items were observed on your property:
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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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