The board of directors of a condominium may consider hiring a property manager to overlook the daily operations of the condo. A property manager is entrusted with the task of collecting common condo fees, keeping the operating records of the condo, responding to any complaints from owners and monitoring and hiring service companies to maintain common amenities.
Hiring the right condominium manager is no doubt a challenging task. They should be able to effectively handle the tasks that come under their responsibility and should also have established processes to efficiently fulfill these responsibilities.
The process of hiring a property manager can be made straightforward by following these guidelines:
During the hiring process, it is important to take time and evaluate the prospective manager’s strengths and weaknesses. Throughout the evaluation process, the following factors should be considered:
It is recommended that before hiring a property manager, a research be carried out to determine what property management companies are offering. This data should be collected in the spreadsheet format and reviewed by the committee that is responsible for hiring.
This whole process will help in short listing the ideal candidates that are suitable and qualify for an interview.
A face to face interview should always be carried out at the manager’s office. This would give the hiring committee an opportunity to meet and see the staff of the property management company. A set of questions should be made ready before the actual interview takes place.
A set of goals and commitments should be agreed upon at this stage. The manager should fulfill these commitments after they are hired.
The responsibility of the board doesn’t end once the condominium manager has been hired. Constant supervision of the manager must be carried out to ensure that they are performing as promised; however, micromanaging should be avoided.
The property manager would be responsible for responding to any complaints by the owners or residents. The board should be kept in the loop by the property manager to diminish the risk and liability factors for the board.
The manager should also carry out an annual walk through of the condo building, or buildings and provide a comprehensive inspection report to the condo board.
To guarantee a long lasting relationship with a condominium manager, certain responsibilities should be fulfilled by the board: