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Answers
Questions Boards actually ask.
Written by a party with no management contract to win. Every other answer you will find to these questions was written by a company that wants the job.
Can our Board fire the management company mid-contract?Terminating management mid-termWhat notice do we have to give our current management company?Notice periodsHow many communities should our manager be handling?Portfolio loadWhat is an evergreen clause and should we accept one?Evergreen clausesShould we ask for a fixed fee or per-unit pricing?Fee modelsDo we have to pay for meetings our manager attends?Meeting attendance chargesWhat should be in our monthly financial package?Monthly financialsCan the management company hold our association funds?Association fundsWhat happens to our data if we leave a management company?Data portability on exitIs our Board allowed to run a competitive bid while under contract?Bidding during a contractHow much should an HOA management transition cost us?Transition costsWhat credentials should a community manager have?Manager credentialsOur manager keeps changing. Is that normal?Manager turnoverCan we require a specific manager in the contract?Naming your managerWhat is a reserve study and how often do we need one?Reserve studiesShould we consider self-management?Self-managementWhat is the difference between an HOA, a condo association, and a co-op?HOA vs condo vs co-opHow do we handle a Board member with a conflict of interest?Board conflictsWhat insurance should our management company carry?Management company insuranceCan homeowners attend the meetings where we discuss management proposals?Open meetings and RFPs
Board briefings, roughly monthly
Statutory deadlines, contract terms worth knowing about, and what we learn from proposals. No sales email, and we do not sell the list.
Start with what you already know.
You know your unit count. You know what your current management does well and what it does not. That is enough to begin.
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