What a Condo Management Transition Should Look Like

A clean condo management transition takes about 45 to 60 days. That is enough time to collect records, move bank access and vendor contracts, confirm insurance and tell owners what is changing, without leaving the building uncovered. Here is how the phases usually run.

Before day one: sign and give notice in the right order

Sign the new agreement first. Then send the termination notice to the current manager the way the old agreement requires. Check the notice period so the two managers overlap rather than leaving a gap. See how to terminate a condo management contract.

Days 1 to 10: set up and request

• Written request to the outgoing manager for records, financials, contracts and access.
• Kickoff meeting with the board and the new manager.
• Confirm who holds each bank account and who the signatories are.
• Collect owner and tenant contact lists.

Days 10 to 25: gather and verify

• Receive records, budgets, reserve information, and open work orders.
• Review vendor contracts, warranties and insurance certificates.
• Reconcile balances and the delinquency list.
• Set up the owner portal, payment methods and the maintenance request process.

Days 25 to 45: move and communicate

• Update bank signatories and payment instructions.
• Notify vendors and utilities of the new contact.
• Send owners a clear letter: who to call, how to pay, how to submit a request.
• Run the first board meeting with the new manager.

Days 45 to 60: first cycle and review

• Complete the first month-end under the new manager.
• Deliver the first financial package to the board.
• Close out open items from the old manager, including final accounting.
• Board review: what worked, what is still open.

What can slow it down

• An outgoing manager who is slow to return records.
• Bank changes that require paperwork from several people.
• Vendor contracts that are not written down.
• Owners who do not know who to call.

What the board should do

• Vote and record the decision in the minutes.
• Name one board member as the main contact for the handoff.
• Keep paying bills on time during the overlap.
• Ask for the final accounting in writing.

Frequently asked questions

How long does it take to switch condo management companies?

A planned transition typically takes 45 to 60 days. The outgoing agreement’s notice period can lengthen the total timeline, so check it before you set a start date.

Will owners notice the change?

They will see new contact details and payment instructions. A clear letter and a working portal on day one keep disruption low.

What records should the new manager receive?

Financials, budgets, reserve information, contracts, insurance certificates, meeting minutes, owner lists and open work orders.

Can the old and new managers overlap?

Yes, and they usually should. An overlap period lets the new manager verify balances and take over open items without a gap in service.

Part of our guide to hiring, switching or firing a condo manager. See also how to switch condo management companies in Boston. Planning a change? Contact Green Ocean or call or text 617-982-0116.

This article is general information, not legal advice. Your timeline depends on your agreement and your governing documents.