Most boards considering a change to a new management firm describe the same fear: that the transition itself will be chaotic. They’ve heard the stories. It’s the single biggest reason underperforming firms keep accounts they no longer deserve.
Done correctly, a management transition is structured, time-bound, and largely invisible to unit owners. CPE’s process — built on an 87-step checklist developed with the Connecticut CEO Council — runs the same way for every community we onboard, regardless of size or complexity.
Should we even switch? Signs that say yes
- Financial packages routinely arrive late, are inaccurate, or aren’t reconciled.
- Board questions take days or weeks to get answers.
- The manager has changed multiple times in the past two years.
- Vendor bids come back with inconsistent scopes — making real comparison impossible.
- The reserve study lives in a binder and nobody references it.
- Insurance renewals happen without a real risk-strategy conversation.
- Owners are unhappy with communication quality, and the board has stopped pushing back.
Any one of these may not justify a change. Three or more typically does.
Before you give notice — board preparation
- Review your management agreement. Pay attention to termination clauses — notice periods, fee obligations, records-handover requirements.
- Identify your selection process. Will the board interview three firms? Five? RFP or referrals?
- Determine your timeline. Most associations target a 60–90 day window from “we should switch” to a new firm being live.
- Run the selection process. Interview firms. Check references. Visit communities they manage. Get written proposals.
- Make the decision and execute the new agreement. Approve the change at a documented board meeting.
- Give written notice to the incumbent. Follow the contract — most require 30–60 days written notice.
The 87-step transition timeline
Once the contract is signed and notice has been given, the structured transition begins. Here’s how CPE runs it:
Days 1–3: Setup and notification
- New operating and reserve bank accounts opened (or signature changes on existing accounts).
- Incumbent firm notified of the transition plan and records-handover timeline.
- Critical vendors notified — landscaper, snow removal, mechanical contractors.
- Insurance broker notified.
- Owner portal initial setup.
Days 4–15: Records and financials
- Legacy records request submitted formally to incumbent.
- Prior year general ledger imported and reconciled.
- Bank reconciliations brought current.
- Vendor contracts cataloged.
- Owner portal populated with documents and statements.
- Records digitization begins — boxes of paper invoices become a searchable digital archive.
Days 16–30: Community orientation
- Meet-and-greet event with owners — reset expectations on rules, communication, and governance.
- Property walkthrough with the board and new manager.
- First property inspection logged.
- Initial reserve coordination meeting with the board.
- Standardized scope-of-work template introduced for upcoming bid processes.
Days 31–45: Settling the new rhythm
- First monthly financial package delivered on time (by the 10th of the month).
- First board meeting under the new cadence.
- First post-meeting board satisfaction survey deployed.
- Any outstanding incumbent records issues resolved.
- Insurance review scheduled ahead of next renewal.
The 87-step checklist isn’t about complexity — it’s about predictability. Boards stop worrying about transition the moment they see what every week is supposed to look like.
— CPE onboarding playbook
What success looks like, six months in
Successful transitions become invisible. Six months in, the board should be having strategic conversations (capital planning, governance evolution, insurance optimization) instead of operational ones (where’s the financial package, why hasn’t anyone called the vendor, why don’t we have the documents).
Owners notice the difference through cleaner statements, faster response times, and a community orientation event that signaled professionalism. The fear they had before the transition? They’ve forgotten it.
Frequently asked
Can we be sued by our current management company if we leave?
Almost never — as long as you follow your contract. Most management agreements require written notice (typically 30–60 days), payment of any final invoices, and cooperation on records handover. Following those provisions protects you legally.
What if our current firm refuses to hand over records?
It happens occasionally. Connecticut law generally requires former managers to deliver community records to the association — they belong to the community, not the firm. Counsel can compel handover if needed, but the threat of formal action almost always resolves it informally.
Do owners need to vote on a management company change?
Generally no — the decision to engage a management firm is a board decision, not an owner vote. Some declarations may require notice to owners, but the choice itself is the board's.
