Q: What is a good evaluation method for property managers?

I am president of a homeowners association in Montana. We have been having problems with owners trying to micromanage our current property manager. At a most recent meeting I suggested that an evaluation form be developed in an effort to fairly evaluate the effectiveness of the manager. Is there a standard evaluation form which evaluates property managers?

- Great Falls, Montana

Want to Find a Local Property Manager?

Some examples of such processes could be:

Specific office hours where the manager may be expected to be at his or her desk and accessible to individual owners – and specific hours or days where the manager will be attending to other matters outside of the office.
A web portal through which owners can communicate privately with the manager – but which the Board can review and inspect for abuse going either way.
A specific process for work orders, suggestions and concerns

Every board should decide as specifically as possible what they want of their manager:

Do you want to emphasize resale value and appreciation? Or are the owners willing to sacrifice price appreciation for livability?
How do you want maintenance resources allocated? To cosmetics that enhance the short-term property values or to invisible but necessary longer-term items?
What is the manager’s scope of work? Do you want your manager managing major construction projects, getting involved with leasing or real estate transfers, handling evictions in individual owners’ houses? Does the manager understand what you want? Are you compensating and resourcing your manager appropriately?

That said, the American Society of Association Executives probably has the best relevant collection of sample and model documents I’ve seen.

Author Bio Writing about personal finance and investments since 1999, Jason Van Steenwyk started as a reporter with Mutual Funds Magazine and served as editor of Investors’ Digest. He now publishes feature articles in many publications including Annuity Selling Guide, Bankrate.com, and more.