How do I go about changing HOA property management?

I owned 50% of the condo complex and the HOA property management is not doing enough to keep up with the maintanance of the complex. The pool is green and closed, landscaping person walked away because he was not paid for his previous works. Termites is a nightmare and they are not doing anything about it because they said they don't have any money. I don't know how this happened. My dues are always pay on time and I just paid 3K in special assessment to cover some of the HOA debts. I don't think they are doing a good job at managing. I need a good HOA property management. Do I need to let other homeowners know about this? Thanks
In Property Management - Asked by Hieu L. - Sep 24, 2009
Report Abuse
Answer this Question

Answer(s)

Anthony B.
Property/Asset Manager
Kensington, CT

Are you on the Board of Directors? If so, then you should be able to look at the existing management agreement, see the expiration date and make a motion at the Board meeting to put management services out to bid for a new contract. If you are not on the Board, then you should get in contact with the current and existing Board members to discuss your issues and complaints with them. The Board of Directors are normally responsible to hire and fire management companies.

Sep 24, 2009
Report Abuse
Michele H.
Property/Asset Manager
Bartlett, TN

Hello L. Hieu,
How disheartening to hear about your association and the financial dilemna. Distressed properties need to have a strong manager and strong owners who will face the problems of the entire association, not an owner who only cares about their one condominium they own. Take an hour and review the financials and see where the bulk of the money is being spent, and sometimes the bulk of the money has not been "received" from owners who will/can not pay. If money is not paid by "all" the owners, some vendors may not get paid. The 3K special assessment collected to pay for something indicates the association did not have any reserve for replacement funds (which are funds set aside in a savings every month ear-marked for future capital expenses.) Yes, managing could be hindered by the association's lack of funds....then find out what the present management company is getting paid....solicit the opinion of other management companies....all managers think differently. Be sure you have a management company who will give you the most "experienced" manager they have.....one who will tell you what is wrong and how to correct the problems. You may have one now, but no one on your board of directors is listening to them. You must research for the answers. Your present management company may need someone like you to be on the board.

Oct 4, 2009
Report Abuse
Gregory G.
Broker/Agent
San Francisco, CA

It will usually be up to the Board of Directors.
Gregory Garver - Commercial Real Estate Broker
Broker License# 01716531
(415)225-9894
gregory.garver@gmail.com

Nov 6, 2009
Report Abuse
Chris R.
Broker/Agent
Denton, TX

Start by reading the legal condo documents. Get competent counsel if needed - an attorney and a qualified commercial property manager with credentials and experience in condo HOA management, perhaps an experienced CPA. They will be able to guide and assist you in going forward to bringing about a change in management from the ineffective situation you have now to one that is professionally managed. Consult the CAI - Community Associations Institute - an organization solely for those involved in condo and HOA management.

Dec 1, 2009
Report Abuse

Welcome to Answers

LoopNet Answers is where the commercial real estate community shares what they know to help each other out. And it's all for free.

Ask a question to get advice from brokers, investors, professionals and local experts.

Answer questions to raise your visibility as a trusted advisor and build new relationships.

Ask a Question

Post Question