Condo Media - March 2013 - (Page 50)

Self-Managed by Patricia Brawley, CMCA, AMS, PCAM ASSocIATIon BoARdS Managing Maintenance 5 Steps a Self-Managed Community Should Take M anaging the repair and maintenance of common elements can be a challenge for self-managed associations. As a “stand alone” entity, the selfmanaged association does not have the same buying power that a community in a management company portfolio can command. Property management companies, because of the number of communities they service and the volume of projects they undertake for their clients, can boast much more leverage in obtaining vendor response to RFPs for large projects. Self-managed associations are especially at a disadvantage with respect to routine maintenance work and emergency service. Property management companies generally obtain better pricing from tradesmen because of the volume of repairs needed in their portfolio of communities. Being a management company’s vendor of choice means consistent service order requests and a reliable cash flow to the vendor. Management companies also have staff available and procedures in place to minimize risk to the associations that they manage. With more managers to provide feedback on vendors, the likelihood of quality work and accountability is greatly improved. Avoiding Maintenance Mayhem So what steps can a self-managed community take to position itself 50 Condo Media • March 2013 for your repairs and maintenance projects. If the contractor is already working in your neighborhood, your maintenance work will be of greater interest and you may be able to obtain better pricing. In addition, if there are other condominiums on the vendor’s client list, there will be a better understanding of common areas and individual units and the other idiosyncrasies of condominiums. 2 more advantageously in the world of repairs and maintenance? 1 Who Ya Gonna Call? The best vendor is usually not the brother-in-law of the President of the Board of Trustees. Although he may be a skilled tradesman, using an “arm’s length” vendor is a better alternative for your community. And don’t do it yourself. Unless you have a license in the trade and up-to-date insurance, leave your toolbox at home. By networking with other associations in your area, you can obtain vendor names and recommendations CYA (Covering Your Association) When something goes wrong with a repair, you want your self-managed association to be protected from unexpected expense. To manage this risk, you must hire only vendors who carry insurance sufficient to correct the problem and restore any damages done to your property. Making sure that the contractor submits proof of insurance prior to undertaking any work for the selfmanaged association is essential. The self-managed association must require the contractor to provide a certificate showing coverage for general liability and automobile and non-owned auto insurance policies with sufficient limits. Your insurance agent can assist you with determining these limits. The association should be named “additional insured” by endorsement with “certificate holder” status to the vendor’s insurance policies. Insurance policies renew annually so it is also important to keep track of expiration dates to make sure the vendor is covered.

Table of Contents for the Digital Edition of Condo Media - March 2013

Condo Media - March 2013
From the CED’s Desk
Editorial Board
CAI News
CAI Regional News
Asked & Answered
Homeowner’s Corner
Vendor Spotlight
Industry Perspective
Self-Managed Association Boards
2013 CAI-NE Spring/Summer Service Directory
Classified Service Directory
Advertisers Index

Condo Media - March 2013