If your condo management company has been consistently disappointing you, or you have received more frequent complaints from tenants over time, it may be time to consider whether or not you are dealing with a bad condo management company. In this article, we’ll discuss the red flags for bad St. Petersburg condo management companies and what to consider when hiring a new condo management company.
Signs You’re Working with a Bad Condo Management Company
Before you undergo the process of deciding to switch condo management companies, it’s important to recognize the red flags associated with poor management. St. Petersburg condo management companies should be devoted to keeping the property in good condition, handling tenant complaints, maintaining records, and providing prompt communication. Lack of communication from your condo management company should be the first red flag that they may not be working in your best interest.
This lack of communication also extends to tenants. If they are unresponsive to tenant complaints, it can lead to a number of issues, including maintenance issues, property damage, or poor tenant behavior. Additionally, the condo management company should provide you with accurate monthly reports on a timely basis. If these reports are inconsistent or inaccurate, it’s time to look into new St. Petersburg condo management.
Related: 3 Signs That You Need a New Management Company for Your Neighborhood
Firing Your Condo Management Company
If you’ve reached the conclusion that your current condo management company is not acting in your best interest or has consistently let your residents down, there’s a few things to consider before switching condo management companies. The first step, above anything else, is to check the contract or condo management agreement.
If there’s specific language included in the contract that verifies why the condo management company is out of compliance with the management agreement, cite this language. Although most condo management contracts contain no-cause termination clauses allowing either party to remove themselves from the agreement, it’s wise to document the cause behind the termination and/or consult with a real estate attorney.
Related: How to Switch Condo Management Companies
Hiring a New Condo Management Company
For the best results, you should carefully examine the needs of your condo association before deciding to select one of the St. Petersburg condo management companies available. Interview as many property management companies as necessary in order to decide which company is the best fit for your association. Consider not only their credentials and certifications but whether or not they belong to any professional property management or trade associations. Then, review their condo management agreement to ensure that their responsibilities are clearly defined and best match your needs.
Wise Property Management has successfully managed associations in the Greater Tampa Bay Area for over 35 years. We know the level of versatility and expertise required to provide the boards and communities we serve with first-class service. If you’re interested in working with the best company for St. Petersburg condo management, contact us today.
Are you ready to work with one of the top St. Petersburg condo management companies that makes life easier for you and your board members and improves the value of your property? If so, submit our proposal request form today!