Condo Association Management Blog

Get sample accounting statements. The way our provider organizes the books may be convenient for them, but makes it difficult to get the information we need out of the reports.

The 14 questions to ask your property manager are designed for a management company , NOT a property manager
A company manages a number of communities, then there are two types of property managers both require Florida CAM license.
First a portfolio manager this person generally has any where from 8 to 15 communities depending on the company, the second is an on site manager this manager manages just one property.
in regards to the questions:
1. How many condo associations does each of your property managers handle? This is a company Question Not for a manager but the answer should be no more than five how can s/he meet evening Board meeting of more than 5 per month and provide the time to properly review, monitor and manage your community
2. How often will the property manager be onsite?
Min once a week
3. Are your managers certified with the CAI?
The Community Association Institute
is not recognized by any state for CAM course approvals, In Florida you must be licensed, the CAI courses are almost the same as the licensure course and the required updates. They own the rights to provide the tests to the State of Florida.

4. What is your policy on bidding annual contracts?
Annually, but the criteria must be based on the company, length of time in business, verification of insurance, license, BBB and DBPR clean license checks, and than cost
5. How do you handle unit owner requests for issues within their units?
The association should never accept the liability of providing any services that requires a license, and in general never provide any in house services that could cause a liability
6. If you do work in a unit how is billing handled?
If during normal working hours that the time is billable for the Assoc. Is this work handled outside the association operations?
If out side the working hours that the maintenance man get the money
7. Ask for references of other associations or properties that have been under management for at least 5 years.
Based on averages not many companies maintain contracts with condos for longer than a few years , just like managers new boards want new companies and managers
8. How does the association or HOA receive monthly financial statements; email, snailmail, etc...? How many days after the month's end will the financial s be delivered?
Should be electronic at any time
Plus hard copies no later than the 10th of the following month
9. What sets you apart from other property managers?
Again a company question
10. What's the biggest challenge in managing HOA's and condo associations?
The Boards to be honest
11. How many onsite meetings do you provide in your contract?
the number of meetings should match your docs
12. What is included in the monthly management fee and what additional charges may we incurr?
Site supervision, accounting and everything has a 32 to 35% pass thru or cost of business add on
13. What payment options are available for the collections of assessments?
two letters and pass it on to the attorney's. That is statute under collections, how flexible you want to be is up to the Board, just keep in mind everyone is equal.
14. How do you handle delinquent unit owners?
two letters and than to the attorney's.
There is no cure all to every problem, you live in a community but run a not for profit business.
As for questions before hiring a company, we suggest if you can afford it get your own manager even part time, other wise us a consultant you WILL save MONEY