Are You Wondering if Your Manager is Doing Enough?
Updated: Oct 2
The best way to answer this and feel confident in their abilities and motivation, here are some guidelines to follow:
If your manager is doing a good job, they will do all of the following:
Be Florida licensed
Attend board meetings
Provide quarterly financials (and in a timely manner)
Keep up to date with current laws and best practices
Always treat all owners with respect
Ensure the association is not exposed to liability
Keep the association’s best interests as top priority
Administer and oversee the association funds
Supervise the preparation of the budgets and other financial documents for an association
Ensure appropriate notices to conduct association meetings
Coordinate maintenance and contracts with employees and services providers
Trustworthy Managers: Your manager should keep their word and provide services agreed upon. Did he attend the board meetings on time and as expected? Did she provide quarterly financials?
Informed Managers: Your manager should always stay current on legal issues and liability avoidance. Laws and legal responsibilities of community associations boards of directors is ever changing. Tracking the changes, learning all the necessary laws is a difficult challenge. Every board should know this an make sure they have a manager who stays current on all of this.
Managers should understand the requirements of current laws, follow a plan to stay informed, and make the board aware of developments. For managers, the clear path is certification.
In Florida, managers are required to be state certified, beginning with an 18-hour Community Association Manager Pre-License Course Requirement. Florida CAM classes are absolutely necessary and must be done prior to obtaining the CAM license from the State.
Things to watch for:
Property management companies should always have a skilled bookkeeper, even a small company. A few companies will often try to handle bookkeeping on their own to save some money. This can have unfortunate consequences and is not advisable. And this could lead to inaccurate information regarding income, expenses, and keeping track of rent collected. If you have made an agreement with a Manager to handle bookkeeping, make sure he or she holds up their end of the bargain and does the work expected.
Trying to accomplish too much
A company getting a lot of business is good for them. However, it becomes bad when the manager takes on more than they can actually handle. Pay attention to how the manager is handling the overall property and take note if they seem overwhelmed.
Not Managing the Property or Properties
Tenant requests and homeowner calls being ignored or forgotten, which can cause tenants to begin looking elsewhere for places to live and leave homeowners angry. One of the highest priorities of property managers should be to respond to tenant concerns right away. And community association managers should be prepared to anticipate issues before they happen.
In conclusion, watch for the above and you should be on your way to excellent management of your community!