Condo & Co-op Managing Agent Responsibilities in NYC: https://www.hauseit.com/condo-co-op-managing-agent-responsibilities-nyc/

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Hiring a managing agent is a time-consuming task for small, medium and large condo and co-op buildings in New York City.

The challenge with hiring a building manager is three-fold:

1) Finding suitable candidates for managing agent
2) Asking the right questions
3) Galvanizing the board to actually fire its current managing agent and make a new hire

There are a number of ways to find managing agent candidates in NYC. These strategies include:

- Asking the listing agent who sold your apartment or your buyer’s broker.
- Reaching out to friends who live in comparable buildings.
- Asking your real estate lawyer.

Once you’ve identified a few candidates, it’s a good idea to meet with each candidate at your building and conduct a walkthrough of the common areas, roof and basement.

Questions to ask the candidates you interview include:

- What current maintenance deficiencies do you observe with our building?
- What are the top 3 priorities for our building based on what you observed?
- What experience do you have in managing comparably sized buildings?
- How often do you physically inspect the buildings you manage?
- What’s your strategy for dealing with after-hours emergencies?
- How do you approach quote procurement for large capital improvement projects?
- Can you share the financials and budget for other buildings you manage?

What Are the Signs of a Bad Building Manager in NYC?

Fortunately, it’s very easy to spot a bad building manager. Immediate managing agent red-flags include:

- Being slow to respond or totally unresponsive to emails
- Selectively responding to owner emails and complaints based on the subject matter
- Failing to adapt to direct requests and feedback from owners
- Writing aggressive, petty or negative emails in response to owners who complain
- Hiring the same repair companies all the time without fielding multiple quotes
- Never actually coming to physically inspect the property
- Failing to reign-in unusually high insurance, water or other bills
- Tolerating sub-par work from the super or elevator servicing company

Is Self-Management a Good Idea in NYC?

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