Miriam

First thing is their is no such thing as a better company... they all offer the same promises!

The term "management promises" is either an oxymoron or a contradiction.

This industry has a severe problem.

"The term "management promises" is either an oxymoron or a contradiction. This industry has a severe problem."

That's about as correct as a woman saying "All men suck"
It is based on your experiences and not necessarily true with respect to the whole.

Most times, if a woman wants to find a perfect man for her, but she keeps attracting the same slime, she's asking the wrong questions, putting out the wrong impressions and doing something to attract what she has.

I'm a man, married 19 years, and my wife is still my best friend.
I am also in management, and take extreme pride in what We do and how it is done; and I am not the only one, I know of many more.

Point is, Good Managers and Management companies do exist.
(Sorry for the long winded analogy!)

~AR

Drum roll, and what Management Company may I ask (and others)

FN

I do not like to advertise here because I realize it is not the proper venue - but since you asked! - We are: R.E.A.P. Property Management / NYCRealtyManagement.com / 800-605-4711
We just started managing publicly; we are diversified and have over 16 years of experience with Cooperative management. I personally manage each building until it is handed off to an account manager with my supervision.

Another company worth checking out would be Weber-Farhat, 212-727-0022 - also very honorable - Moises Farhat

~AR

Most responsible management companies realize that change is common and cooperate fully with each other in the transfer.
The old management company such give the new one all the information they have.
This might be a good time for the BOD to keep a list of what documents and which years the new management company has.

Thanks for all the inputs: maybe some of you know how many years od documents are supposed to be kept by law?

I agree with Left on this one. Most management companies would be familiar with each other and would have an understanding/code of conduct? when it comes to change as they all have eperienced similar situations in the past. In addition it would not look good if a management company failed/held back files etc during a transition phase as it would be frowned upon etc.

FN

just went through a management change --a daunting experience. and the previous management company did not have our records from 2000. But, after a threat of sicing Adam Bailey on them they suddenly found them the next day

CGER: Who is Adam bailey, we may need him too. Thanks

a lawyer (bit of a publicity hound) but goes for the jugular. lol

While I am not answering your question (sorry) going forward: Now I am only a Resident Manger (Superintendent) but I am smart enough never to let the management company have more then the past two years of records. These records are records of the corporation and THUS should be kept in a safe place at the corporation. I always advise to keep the records at the building. There is always some space available where to keep the many boxes. Otherwise rent a space. Keeping the records at the building does give peace of mind, and if needed to go to them, there they are.
That's my two cents worth.
Pg

Miriam:
Major company to a better one... not necessarily major, to be better! As most know, I have a small management company, so I may be able to answer most of your concerns...
If the company you are departing from is professional, you need not worry. At the very worst, the bank recs will be slow forwarding, so your AP may want to stay on top of that. Typically, all resident files, DOB files, Violation files, Individual stock certs, and leases, all tax files, accounting files, bank statements, construction project and local law filings and reports, fuel storage and boiler filings and info, there is a lot more. Your new managing agent/company should work closely with the prior company to ensure the accounts are promptly switched over to their name, new signatory cards are filled in and sent to the bank, notices to all vendors and residents go out ASAP. A small escrow would stay with the old company to pay some residual bills. usually, the initial files should be transferred in the first few days, and the rest follows.

Hope that helps-
Good Luck
~AR