When is it time to say goodbye?
We have all been there; you are entangled in a bad relationship with a friend, a family member, a significant other, or perhaps even a client. All too often, in the midst of it, you can't see that it is not working; it's toxic and taxing. However, you can't seem to walk away. Then, when you finally do, you think, "why didn't I do that sooner"?
You break up; some are dramatic, and some finish as quickly as they started.
Question for the Property Manager's/Firms. When is it time to break up with your condominium corporation?
Onyx is not in the business of walking away from our clients. We are committed to maintaining professional relationships. We set expectations that both parties must follow, if things are not working out, we make sure to book meetings and discuss them, getting ahead of potential concerns.
So, if you are wondering if it's time to make a change, the first question to ask is, "What do we deserve?" In short, the property manager and the firm deserve respect, cooperation, honesty, and acknowledgment.
Are you getting this from your current clients? There is a danger of doing nothing. Sitting by and letting bad behavior happen will eventually wear your team down. Motivations drop, then overall morale and confidence comes next. Perhaps your team member quits, is required to go on stress/sick leave, or starts sharing with the rest of the team that they do not feel supported.
Is the monthly management fee enough to justify the above?
What about the time it takes to deal with a draining board? Could that time be spent better elsewhere? Likely a resounding yes.
Here are a few situations where it may be time to switch, not all are from Onyx :)
They...
are moving funds of the corporation without the knowledge of the PM and purchasing high-risk investments.
sometimes, decisions take days or weeks for them to make, but expect the PM/vendors to respond to emails within an hour.
refuse to pay well-performing vendors in full.
treat your PM like a personal assistant.
do not follow the requirements of the Act and other governing bodies.
take a cut (money) from contractors.
are rude and condescending.
creating complicated policies, procedures, and approval processes, making it nearly impossible for the PM to perform their duties.
leaving board members out of the conversation and asking the PM not to loop them in.
ask for favoritism for board members; take care of my unit first, before others.
My favorite... "I pay your salary".
The list goes on. The point of this blog post is that Property Managers and Property Management Firms are held to a high level of expectations from our governing bodies, for good reason.
Board of Directors have a very loose version of a code of conduct, they can treat their fellow board members, contractors, and property managers terribly, and there is little recourse. Sadly, sometimes the only recourse is for the firm to part ways.
A lesson in all this. "You can't have the sweet without the sour".
We have AMAZING clients and partners, though we have had to part ways with some. While unfortunate, this allows us to understand how lucky we are when we work with amazing people.
So what does a good board have? They...
give the benefit of the doubt
do not jump to conclusions
are inclusive and do not hold information from other board members
communicate clearly
follow up in a timely manner
recognize that Property Manager's can not control other's actions
share concerns quickly so they can be addressed
give respect and deserve respect
communicate without rudeness and manipulation
are looking for the best interest of the corporation and it's owners and do not have a hidden agenda.
they provide constructive feedback and praise.
Property Management is a two-way street. Yes, we do the heavy lifting, though a good board can make that work so much easier and make a difference in a property managers day, week, and year!
Know a great Property Manager, send them an email saying so!
Contribution from Angel Reiner
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