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We are a coop located in NJ with 150 units. We are thinking ahead to when we need to fill the position of our building manager as he is nearing retirement.
Can anyone recommend a good source for finding a new building manager?
Can anyone recommend a management company they have had a great relationship/experience with?
We haven't decided which way to go yet; we've had both types of management in the past and are exploring possibilities.
This is a pertinent topic to our building as well. Our manager has left the company that represents us. The president of the company wants to assign an inexperienced new agent to us, one who he feels he can train in his own manner. I suppose inexperienced agents have to start somewhere, but I don't want that happening to us. We need an agent who knows how to deal with the superintendent, vendors, shareholders, and the directors too. What are your thoughts?
Dear Andy,
Thank you for being in touch. I have located your online website for KW Property Management and Consulting and I will run your response by our Board this week and see how they would like to proceed. It is an important decision.
We have worked with management companies in the past, some good and some bad experiences. Our present manager does not report to a management company.
Patty
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The two questions fit together well because your management company and building manager/resident manager must work together to provide your cooperative the best service.
Building Manager/Resident Manager: Here are two paths to take in your search for a building manager/resident manager:
1. Hire a new building manager/resident manager as an employee of your cooperative
2. Outsource this role to a service provider
Where to look for new building managers/resident managers? Your current management company or future management company should have a bench of resident managers to present as options. Groups like NYARM and CAI can be a great resource for resident managers who have been actively taking classes to improve themselves, thus making a better employee. Also, there are several resident manager groups that are great resources.
Outsourcing the role of building manager has certain benefits and drawbacks. I can further discuss your needs to identify if this is an option for your cooperative.
If you are self-managed cooperative while utilizing a building manager to manage the daily operations of your cooperative, I would strongly recommend moving to a management company. Third party management provides advantages like technical resources, experience, processes, financial expertise, collections assistance, etc.
I would be happy to talk more details about your building manager search and introduce KW Property Management & Consulting as an option in your decision process.
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