Depending on the size and type of the project, managing the project’s impact on residents and homeowners is essential. For example, a window replacement project will impact and cause disruption in the units to nearly every room in their home. A smaller project such as a common area pump replacement may not cause any disruption to owners or residents at all. Obviously, a smaller project may take very little involvement from management, while a larger project, as noted above, might require professional project management or a resident advocate to be involved over and beyond the day-to-day management duties as covered by the management agreement/contract. This may require three or four meetings with each resident/owner before the work even begins in order to protect their property, communicate with the individual and set expectations regarding impact to that specific unit.
If you have provided an adequately detailed RFP, you should receive relatively comparable proposals. You will need to review all the bids to verify this. Allow time and attention to clear up any discrepancies. Things to address might be: deviations from the RFP such as additional services not requested in the RFP or not including items that were requested on the RFP. The bids should be within 10% of each other. Look at bids carefully, especially bids that have a large discrepancy. The RFP may not have been adhered to, and vendors sometimes will overbid a project if they have reason to not be invested in the project.
Although property managers are tasked with taking on a wide variety of projects, having a general game strategy that can be applied to multiple types of projects is important so that there is a systematic approach to winning the project game. This is not a process where you should just skate through. By gathering, assessing, and organizing the project players, you are empowering your clients with information that can be used to effectively make informed decisions that lead to successful project completions.
By acting as the team captain, we can guide our associations so they can score goals and be champions of their asset management.
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Tom Engblom CMCA AMS PCAM VP/Regional Account Executive 312-209-2623 Toll Free: 866-800-4656, ext. 7498
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20 | COMMON INTEREST® A Publication of CAI-Illinois Chapter
Member FDIC Equal Housing Lender
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