1) Licensing: Is the property management company licensed in the State of Florida? Unfortunately, many management companies do not have the necessary licensing required by the State and say they do.
2) References: Has the property management company you are thinking of hiring provided you with references? Call current clients and ask – “do they have a good response time, do they provide timely reports, do they provide the service they promised?”
3) Experience: What types of properties do they manage? Are they specialized in any aspect of the industry, or do they do it all (sales, rentals, mortgages, etc.)? They may not be focused or attentive to the services you need.
4) Services: What property management services do they provide? 24 hour emergency service? Collections? Monthly reports? Financial Management? Attendance at all meetings?
5) Response time: What kind of response time can they guarantee, during business hours and emergencies? Do they answer their phones 24 hours a day? Are their emails answered throughout the day?
6) Fees: What kind of fee structure do they have in place? Are fees all inclusive? Do they charge for office supplies? What tracking system is in place for additional fees? Do they nickel and dime you? Sometimes the lower priced companies have add-ons or kickbacks. Ask.
7) Certifications: What organizations are they a part of? Is the property manager an active member of any of the national property management associations, such as CAI (Community Association Institute) or any local chambers of commerce or business organizations?
8) Delinquent Owners: How will delinquent owners’ accounts be handled? Will they charge late fees? Will they send out monthly late notices and demand letters? Do they have a separate Accounts Receivables Department? Will they maintain an open line of communication with the Associations attorney if needed?
9) Violations: How will violations be handled? Will they send violation notices? Will they impose fines? Will digital pictures be taken as evidence? Will they maintain an open line of communication with the Associations attorney if needed?
10) Property Inspections: How often will they personally inspect your property? Weekly? Quarterly? Do they have trained and licensed managers visiting their properties? This can be very important and if not attended to frequently can lead to many disgruntled residents.
The information above was prepared by Marc Rodriguez, a Licensed Community Association Manager and President of Four Points Property Management, Inc., a property management firm specializing in community association management and consulting services throughout South Florida.
This publication was created as a guide to assist members of the Board of Directors when choosing a management company for their community. Mr. Rodriguez can be contacted at mrodriguez@fourpointsproperty.com or you can visit www.FourPointsProperty.com for more information about the company.
No comments:
Post a Comment