For the most part, people are afraid of change, and that’s why they are more likely to stick with what they have and what they know, rather than explore new possibilities.
That’s definitely the case with condo communities in relation to their management companies. Most of the time, an association’s board of trustees will enjoy a long partnership with their management firm and individual property manager, never even thinking about making a move. However, things do come up to warrant change.
“Typically there are a couple main reasons why an association may consider changing management companies but the primary one is lack of communication by the existing management company and the building,” says Steve Lewis, owner of Harvest Properties in Melrose, Massachusetts. “Communication can be just as simple as not responding to emails or phone calls in a timely fashion. That’s where the frustration starts and can build over a number or months or years depending on how long the relationship has been. If things aren’t communicated effectively then people can get very frustrated. Another reason is financial transparency, poor financial recordkeeping. If the association is not comfortable with the bills that are being paid or how much money is in the account, especially if they are not seeing copies of invoices that could lead to suspicion and distrust.”
Partiality to a board or association member, the commingling of funds, not enough face time or on-site exposure are also reasons a board might consider changing management companies, adds Ronald A. Grandchamp, CMCA, AMS, of Premier Property Management in Middletown, Rhode Island.
If problem after problem arises and the condo development is no longer running smoothly, it might be time to consider making a change.