YOU WISH TO CHANGE PROPERTY MANAGERS?
The renewal of a property manager’s term is decided at the co-owners’ Annual General Meeting, in accordance to the length and terms of the contract that bind the condominium to the property manager. However, this contract can be ended at any time by the decision of a regular or exceptional General Meeting of the co-owners, and under the conditions set out in that contract. The co-owners can thus ask their property manager to call a General Meeting, when they so choose, to change property managers. All that is required is to inform the property manager in writing. The property manager must then convene the Meeting and, apart from legal matters, add the following item to the agenda: “Nomination of a property management company.”
The current property management contract can be broken at any time simply by holding a General Meeting.
A new property manager is then nominated at that same General Meeting and a representative is designated to sign a contract with the new property manager. Beforehand, the co-owners will have contacted various property management companies and requested quotations before holding the Meeting to select a new property manager. Ensure that the majority of co-owners want to change property managers and that the majority have chosen the same new property manager, who has previously agreed to accept the position.
Survey the co-owners before calling a General Meeting to be sure that it will merit a discussion…
It is imperative that the nomination of the new property manager or management company (name, representative, address, etc.), as well as the date that their contract becomes effective, be clearly written in the Minutes of the General Meeting. These minutes must be signed by whomever was the chair at the end of this Meeting and a copy must be given to him. Without this copy, the new property manager or management company cannot take up the former property manager or management company’s mandate. After holding this General Meeting, contact the new property management company immediately to hand them a copy of the Minutes of their nomination. Your new property manager will then contact the outgoing manager in order to transfer all documents related to the condominium.
Take great care in respecting the rules in effect, because it is quite unlikely that your current property manager or management company will help you change them…
Once these steps have been taken, the new property management company will be in contact with the co-owners in order to begin their work under the best of conditions.
FORMALITIES FOR CHANGING PROPERTY MANAGEMENT
A majority of co-owners must want to change property management and be in agreement on the nomination of the new property manager or management company.
Organization of a General Meeting where the "Nomination of a property manager" is one of the items on the agenda.
During the General Meeting, the new property manager is chosen by election and a representative is designated to sign the new contract.
RESPECTING THE RULES
Be mindful to respect all the rules in effect during the drafting and publication of the Minutes of the General Meeting.
Once these simple steps have been completed, the new property management company receives the information from the former one and begins its assignment.