Choosing a manager · 5 min read
Ten questions to ask before hiring a management company
Choosing a management company is one of the biggest decisions a board makes. These questions help you compare proposals on more than price.
- Who will be our manager, and how many communities do they handle? A manager with too many accounts can’t give yours real attention.
- What’s included in the base fee, and what costs extra? Ask for a full fee schedule, including copies, mailings, meetings and resale documents.
- How do homeowners reach you after hours? Find out who answers emergency calls and how quickly they respond.
- What financial reports will the board receive, and when? Ask to see a sample monthly report.
- How are association funds held? Funds should be in accounts in the association’s name, with clear controls on who can approve payments.
- How do you select and supervise vendors? Look for competitive bidding and checks on licensing and insurance.
- How do you handle late payments? A fair, consistent process protects both the budget and neighbor relations.
- What does the transition look like? A good company takes the lead on collecting records and funds from your previous manager.
- How long is the contract, and how can it end? Check notice periods and cancellation terms.
- Can we speak with boards you currently work with? Ask what the company does well and where it could improve.
Questions about your community?
Our team is happy to help. Email info@epsilonpm.com or request a proposal.