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In Florida, Condos are a "big deal". They can be a blessing or a curse. May I respectfully suggest, read those Condo Docs until you know them thoroughly. Review all financial statements, etc.
You may want to spend an hour or so with a Real Estate Attorney, to review the documents, financial statements, etc. It will be money well spent.
Fred Griffin Florida R...
Shanna, check out some other condo projects that look like they are well managed. Talk to them - it might be a good place to start.
Good morning Shanna. I don't mind managing property, as long as I own it.
Shanna Hall - not done, and not much of experience either.
Good luck - you can do it!
Don't do rentals, have a friend that owns a property management company. Good luck!
No. There are a number of major management companies in our market.
No. I stick to residential sales and leave the management of condos to who specialize in managing condo complexes! As an owner it might be wise to have an arms length relationship with a managing company..thinking of liability issues.
Good luck. The others have given you good advice.
Never have as that is a completely other 'arm' of real estate and requires specialized liability and E & O insurance and the ROI is not as great as general RE.
Shattuck, there's bound to be some good models out there. Study them
Hi Shanna -- I would also suggest the approach suggested by Patricia Kennedy --- check other complexes where the association seems well managed.
I don't manage property. Although the company I work for manages a few apartment complexes and about 80 other rental homes.
I am on the Board of Directors of one and have been for almost 10 years. I have ownership of a few dozen of the units but do not manage the whole complex but work closely with the management company and make most of the major decisions.
Check you financials and make sure there is not a problem. Why are they resigning? Get quotes for management from some other companies and then select the one that has the best service and reputation.
Nope, we don't have many in my market.
I would check out other complexes and see who they use. Speak with the president of those hoa's and ask if they like or dont like.
If you're planning on managing the complex yourself, I would discourage it, unless you have the time and the energy to do it. To find another management company, I would ask some other condo association who they use and see how satisfied they are.
I used to manage complexes. When I retired, I recommended another agency with a good reputation. Your current management company should be able to guide you to a reputable company. But, don't stop there. Inquire with other condo associations also. They can tell you who they use and if they are happy. Good luck, Shanna.
Sorry Shanna, no not here
Sorry I can't help you with that.
I don’t. I’ll be curious to see if any of the Q&A regulars do.
We dont have many of these.