What specific questions should you be asking property managers before hiring them? Here are 14 questions you may consider asking.
- How many condo associations does each of your property managers handle?
- How often will the property manager be onsite?
- Are your property managers certified with the CAI?
- What is your policy on bidding annual property management contracts?
- How do you handle unit owner requests for issues within their units?
- If you do work in a unit how is billing handled? Is this work handled outside the association operations?
- Ask for references of other condo associations or properties that have been under property management for atleast 5 years.
- How does the condo association or HOA receive monthly financial statements from the property manager; email, snailmail, etc...? How many days after the month's end will the financials be delivered?
- What sets you apart from other property managers?
- What's the biggest challenge in property managing HOA's and condo associations?
- How many onsite meetings does the property manager provide?
- What is included in the monthly property management fee and what additional charges may we incurr?
- What payment options are available for the collections of assessments by property managers?
- How does the property manger handle delinquent condo unit owners?
Scott Wolf
