Order a Status Certificate

Blog

ICON
When condo boards are ready to switch condo management companies, it is important to understand the full range of considerations before making a change. Many communities explore options in condo property management, condominium management companies, switching property management companies, property management transition, request a proposal (RFP) for condo management, selecting a condo management firm, and finding the best condo property management services to ensure their community receives the level of support and expertise it deserves.

May 4, 2024

Thinking of Making a Change? How to Switch Condo Management Companies the Right Way

Navigating the decision to switch condominium management companies can feel overwhelming, but when your current service fails to meet expectations, it may become a necessity. At ICON Property Management, we specialize in making transition seamless and ensuring that your community receives the superior condo management services it deserves. Below are some key points to consider when making the decision to switch condo management companies.

Evaluate Your Current Management

Before you make a move, it’s important to pinpoint exactly where your current management company is falling short?

  1. List the Issues: Clearly identify and document ongoing problems to review with your current condominium manager, identifying how these problems are affecting service for community residents. This will serve as a solid foundation for any necessary discussions and decisions.
  2. Communicate For Improvement: Engage with a senior manager or director at your current property management firm.  Explain your concerns and ask for an action plan to address them.  Agree on a timeline for these improvements, giving your current management team a chance to correct their course of action.
  3. Monitor Progress: Establish deadlines for the improvements you’ve discussed. If progress has been made, that’s great!  If not, it may be time to consider switching management firms.

Laying the Groundwork for Change

Preparation is key to a smooth transition.  Here’s how to prepare for a management switch with precision:

  1. Prepare a Request for Proposal (RFP): This document should detail your condominium’s requirements and expectations, including the building’s age, size, and any anticipated projects. This will help prospective firms understand your needs and tailor their services accordingly.
  2. Arrange a Site Visit: Invite potential firms to visit your property. This helps them grasp the unique aspects of your community and shows their willingness to engage personally.
  3. Develop a Questionnaire: Create a list of questions for potential management companies. Ask about their communication methods, technology use, and how they handle transitions. Understanding their approach will help you gauge whether they align with your condo’s needs.

Selecting the Right Firm

Selecting a new firm is more than a business decision- it’s about finding a partner who will invest in your community’s success:

  1. Aligning Values & Services: Ensure the condo property management company’s philosophy and approach to service aligns with your community’s values and needs.
  2. Assessing Credentials: Evaluate their experience managing similar properties. Experienced firms are likely to handle transitions smoothly and can bring best practices to your community.
  3. Checking References & Reviews: Check their reputation through reviews and references. A reputable firm should be open to sharing testimonials from other managed properties.

Transitioning to New Management

Once you’ve chosen your new property management firm, ensure the transition is as smooth as possible:

  1. Notice of Termination: Notify your current management firm about the termination of their services, adhering to the notice period specified in your contract.
  2. Authorize the New Firm: Formalize the engagement with your new property management firm. Ensure they are authorized to start the transition process and provide access to all necessary documents and records.
  3. Support the Transition: The new firm should manage the transition process, but your board’s involvement and knowledge of the community is crucial. Stay informed and involved to ensure a smooth changeover.

Switching property management companies can significantly improve the quality of management services your condominium receives. By thoroughly assessing your current situation, preparing a detailed proposal, and carefully selecting a new firm, you can ensure a transition that minimizes disruption and sets up your community for success.

Is It Time For A New Direction?

At ICON Property Management, we are dedicated to providing exceptional service and support every step of the way. We understand that a successful transition is not just about changing firms—it’s about upgrading to a partnership that genuinely serves your community’s best interests.

If your condo board is ready to explore a new direction in property management, we invite you to request a proposal from ICON Property Management. Our team is eager to demonstrate how we can enhance your community’s management with our proactive and client-focused approach. Request a Proposal and let us help you take the first step towards a better managed future.

Recent Posts

condo special assessment, Ontario Condominium Act, condominium board members, condo property management, reserve fund, condominium expenses, condo board responsibilities, condo repairs, Ontario condo law

August 27, 2025

What is a Condo Special Assessment?

Condominium corporations in Ontario operate under the Condominium Act, 1998, which outlines the financial and governance framework for how condos are managed. One of the most important and often misunderstood financial tools available to condo boards is the special assessment. If you serve as a director on a condominium board, you may already know that […]
Read More
condo reserve funds, reserve fund study, condominium corporation, Ontario law, financial stability, property value protection, common elements, special assessments, financial management, monthly condo fees, long-term success, community livability, Ontario condominium management, condo operating budget, condominium reserve study, condo property management Ontario, condo financial planning

August 21, 2025

Condo Reserve Funds Explained: Everything You Need to Know

What Are Condo Reserve Funds? A Guide for Ontario Board Members If you sit on the board of a condominium corporation in Ontario, you’ve likely heard the term condo reserve funds during financial discussions. But what exactly are they, why does Ontario law require them, and how do corporations manage them? Understanding condo reserve funds […]
Read More
Many board members wonder, what happens when there is a change of directors in your condo community? Understanding the process is essential for maintaining strong governance. A smooth transition requires awareness of compliance rules related to the change of condo board members, the unique responsibilities of the condo board of directors in Ontario, and the requirements set out under condominium governance in Ontario. New directors must also complete condo director training while ensuring continuity in decision-making with the support of professional condominium property management in Ontario.

August 20, 2025

Navigating a Change of Condo Board Members: Compliance and Best Practices

Condominium corporations in Ontario rely on their boards of directors to ensure the success and stability of the community. Directors govern under the Condominium Act, 1998 and make decisions that shape the daily lives of residents, the financial health of the corporation, and the long-term maintenance of the property. Because of the importance of this […]
Read More