Many people living in New York reside in cooperatives and condominiums. These residents depend on competent property managers to maintain their standard of living. When it is time to make a change in this important position, those in charge must take steps to ensure a smooth transition for all involved.
The tasks of a property manager
The property management team fades into the background when everything runs as it should. The facilities will be clean, secure and well-maintained. Residents will come and go without noticing any problems.
However, it takes a great deal of work to maintain this appearance. Some of the tasks handled by property management team members include:
• Fee and assessment collection
• Coordinating routine maintenance
• Managing capital improvements
• Staff hiring and management
• Complaint and dispute mediation
Reviewing contracts and expectations
Switching to a new property management provider is an opportunity for leaders to evaluate the needs of the community. Are there amenities that have become standard in other complexes? Does the facility have the infrastructure to meet the technological expectations of younger generations?
The leadership boards of condominiums & cooperatives might survey current residents to determine what worked and what was missing from the former provider’s service. Sharing this information with the new provider can prevent misunderstandings during the transition.
The new contract should incorporate the findings of these discussions. This document will then provide direction to the incoming team. It will also serve as a guide in case of disputes between residents and management.
It can be difficult for members of the outgoing team to avoid taking the transition personally. Some of these employees have developed friendly relationships with residents. News of the change may feel like a personal failure or insult.
Unless there was an issue of impropriety, management changes are typically decisions based on financial or service-related priorities. The board should expect professional conduct from the incoming and outgoing teams.
Changing property managers does not need to be a stressful transition. Strong communication and clear expectations with help the changeover happen smoothly.