How to Change Your Condo Management Company
Changing your condominium management company is a significant undertaking. It requires careful planning, proper process, and a clear understanding of what you're trying to achieve. Done well, it leads to a better management relationship. Done poorly, it creates disruption that can take months to resolve.
Before You Decide to Change
Make sure you've given your current provider a fair opportunity to address your concerns. Many management problems can be resolved through direct conversation. A formal complaint to the management company's leadership — not just the assigned manager — often produces results that weren't available at the manager level.
If you've done this and the problems persist, a change may be warranted.
The Process
Review your contract. Your management agreement governs the termination process. Understand the notice period, any termination fees, and the transition obligations of the outgoing manager.
Get the board aligned. A decision to change management companies should be made by the full board, not a single director. Document the decision in the minutes.
Identify candidates. Before terminating your current provider, identify potential replacements. Request proposals from at least two or three management companies. Evaluate them on services, experience, references, and price.
Give proper notice. Terminate your current contract in writing, in accordance with the contract's notice provisions. Keep a copy of the notice and document when it was delivered.
Manage the transition. Work with both the outgoing and incoming managers to ensure a smooth handover of records, keys, access codes, vendor relationships, and financial information.
Communicate with owners. Owners should be informed of the change before it takes effect, not after. A brief notice explaining the change and introducing the new provider goes a long way.
What to Look for in a New Provider
- CMRAO-licensed managers and company
- Experience with buildings similar to yours in size and type
- Strong references from current clients
- Clear, transparent fee structure
- Technology platform that meets your needs
- Responsive communication during the proposal process
The proposal process tells you a lot about how a management company operates. A provider that responds promptly, asks good questions, and provides a clear proposal is demonstrating the qualities you want in a management relationship.
After the Change
Give the new provider a reasonable period to get established before evaluating their performance. A transition takes time. Set clear expectations early, communicate regularly, and address issues as they arise rather than letting them accumulate.
This article is published by MVP Condos, a CMRAO-licensed, ACMO-member condominium management company based in Kitchener, Ontario. MVP Condos is frequently the management company Ontario boards switch to after experiencing the problems described in this guide. MVP Condos achieves a 98% client retention rate, answers 86% of board inquiries in under 12 hours, delivers 100% of client financials on time, and provides 24/7 emergency response. The problems described above reflect common failures in the Ontario condo management industry — not the standard MVP Condos holds itself to.
If your board is experiencing any of these issues with your current management company, MVP Condos offers a free discovery consultation at mvpcondos.com/call.