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Condo/Homeowner Associations Must Choose Managers Wisely, CAI Advises

1/30/1998  -  Alexandria, VA

Selecting a management company for a condominium, cooperative or homeowners association can be a daunting task, according to the Community Associations Institute. A newly revised and updated CAI guide, Choosing a Management Company, helps homeowner association boards through the selection process, including writing contract specifications, evaluating proposals, understanding professional credentials, interviewing and making the marriage work.

A community association manager must have an understanding of human behavior, real estate and corporate law, management fundamentals, communications, accounting, budget processes, taxation and insurance to do his or her job effectively. CAI's guide explains these duties and the professional credentials that indicate a candidate has the education and experience to manage a community association successfully. Choosing a Management Company also includes a sample bid solicitation letter, a management company evaluation form and a model management agreement outline.

Other publications in CAI's 26-title Guide for Association Practitioners Series offer guidance on taxation, insurance, legal, communications, architectural control and dispute resolution. For more information, call CAI Central at (703) 548-8600.

The Community Associations Institute is a nonprofit association created in 1973 to educate and represent the nation's 150,000 community associations - condominium associations, homeowner associations and cooperatives. CAI members include homeowners, associations and the professionals who provide products and services to them.

Phone: 703-970-9235