If you’re unhappy with your current condo management company or feel that they’re not meeting your needs, it may be time to consider making a change. Changing your condo management company can be a complex process, but with the right approach, you can ensure a smooth transition to a new provider. Here are the steps you need to take to switch your condo management company.

1. EVALUATE YOUR CURRENT SITUATION

Before making any changes, it’s important to assess why you’re dissatisfied with your current condo management company. Make a list of your concerns and take the time to understand what you’re looking for in a different company. This will help you make an informed decision and ensure that you find the right management company for your needs.

2. CONSULT WITH YOUR BOARD

Once you’ve evaluated your current situation, it’s important to consult with your board of directors. Your board should be involved in the process of selecting a new management company, and they may have insights or ideas that can help you make an informed decision.

3. RESEARCH POTENTIAL OPTIONS

The next step is to research potential providers. Look for management companies that have a good reputation, a proven track record of success, and the technical expertise necessary to effectively manage your building. You may also want to consider companies that specialize in managing buildings similar to yours.

4. SCHEDULE MEETINGS AND GATHER INFORMATION

Once you’ve identified a list of potential companies, schedule meetings with each of them to gather more information. Ask about their experience, their approach to management, and their processes for handling maintenance, repair, and financial management. You may also want to ask for references from other buildings they manage.

5. CONSIDER COSTS

When evaluating potential providers, it’s important to consider the costs involved. Some management companies charge a flat fee, while others charge a percentage of the building’s operating budget. It’s important to understand the costs involved and ensure that they’re in line with your budget.

6. MAKE A DECISION

After gathering all of the details, it’s time to make a decision. Consider the information you’ve gathered and make an informed decision about which condo management company is the best fit for your needs.

7. NOTIFY YOUR CURRENT CONDO MANAGEMENT COMPANY

Once you’ve made a decision, it’s time to notify your current management company. You’ll need to provide written notice of your intent to terminate the contract and provide a reason for the termination. It’s important to be professional and courteous when providing notice to ensure a smooth transition.

8. NEGOTIATE THE TERMS OF THE NEW CONTRACT

Once you’ve selected a new condo management company, it’s time to negotiate the terms of the contract. Ensure that the contract clearly outlines the responsibilities of both parties and that it’s in line with your expectations.

7. PROVIDE INFORMATION TO THE NEW CONDO MANAGEMENT COMPANY

Finally, once the contract is in place, it’s time to provide your new condo management provider with all of the information they need to get started. This may include access to the building’s systems and infrastructure, financial records, and any other relevant information.

Making a change to your condo management company can be a difficult process, but with the right approach, you can ensure a smooth transition to a new provider. By taking the time to evaluate your needs, consult with your board, research potential providers, and negotiate the terms of the contract, you can ensure that you find the right management company for your needs.

If you’re currently looking for new management to represent your condo corporation, we would love the opportunity to partner with you. Feel free to send us a message or request a free proposal to see why Edmonton and  Calgary condo boards choose Pivotal Property Management.