Choosing a management company

research by Richard E. Gordon
richard@gordonrichard.com
last updated April 21, 2010

Selecting management company. If your Florida condo association is thinking of hiring a management company, what are suggestions for choosing the best company that meets your needs considering your condo building has forty apartments?

1. Find other condo developments near you. See if you can contact the president of the Board of Directors. Ask the president to comment on how happy or unhappy the president is with his or her management company. If the president gives a good recommendation and there are other condominium associations in the area using the same management company, contact, too, the presidents of the these other associations to get their appraisal of the management company.
2. Larger management companies may have several managers on their staff. Before signing up with the management company, ask to meet with the specific manager that will be taking care of your condominium complex.
3. Make a list of what you expect a management company to do such as provide monthly financial statements, provide and supervise contractors, collect monthly maintenance payments. Then in interviewing the prospective new management, how he would meet each of these needs.
4. Here are links to good articles on this same subject -- choosing a good management company.
   • New Neighborhoods Publishing Company
   • Realty Times
   • Sun Sentinel
   • Los Angeles Times