How do you choose a qualified property management company. Someone once said years ago, “there are over 200 management companies in the GTA, out of those 200, maybe 20 of them are qualified to be managing condominiums. That number has risen to over 500. Questions to ask;
1. Does a bigger company offer more experience? In the background, yes, but it is the front line person (your property manager), that should be experienced, at the same time, have the support of the senior staff. The industry is growing too fast for companies to find experienced managers and when they do, they feel they do not need to be involved in the property.
2. Is your management company carrying out proper procedures when procuring tenders for larger projects? Larger projects should involve and engineer to draft proper specifications and ensure that the quotes received are based on the same work and are easily comparable. These tenders should be received at the management office and opened in front of the Board of Directors.
Watch for more questions…………..coming soon.
Tim Bourdignon
