8 Step to Bid 2023

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Finding the right fit to manage your Texas community.

8-step, no-regrets guide to better bidding.

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Quick Look: 7 Factors

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Step 1: Come together.

Meet with fellow board members to talk openly about the current state of your association and decide whether it’s time for a change. Start with questions like:

• Do we have the resources to manage everything in-house?
• Is our current management enough for our growing community?
• Would such changes simplify daily operations or just complicate things?

Since partnering with new management will impact your community for years to come, consider 7 important factors first.

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Shopping for new management? Consider these 7 factors: Availability – The best management companies offer 24/7 customer service. Size & depth – Can they offer large-scale resources while maintaining a friendly, local touch? Value – What’s included? Do they have access to business relationships to help negotiate better prices for elevated services? Company experience & reputation – Ask them to provide references to similar boards who use their services. Also, do your own research and find legitimate online reviews. Your community’s needs – Avoid a “one-size-fits-all” approach; ask questions that dive into the specifics of what your property needs. Maintenance expertise – How do they respond to last-minute emergencies? They should provide cost-effective proactive maintenance plans to avoid surprises. Dedicated team – Are they equipped with the right professionals to keep your community working at peak efficiency? Think: financial managers, hospitality specialists, technology providers, etc.

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Step 2: Identify specific problems (emphasis on “specific”).

When you bring aboard a new management company, you bring aboard a host of resources. But which resources will your community value most? Determine specific needs like:

• Timeliness in financial reporting
• Technology for effective communications
• Customer service availability

Go ahead and prepare a checklist for which your association needs customized solutions.

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See the Checklist

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Fact or Fiction?

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Step 3: Don't rush. Explore possible solutions.

Make an informed decision. Luckily, there is a variety of resources available specifically for Texas associations, including:

• Community Association Institute (CAI) resource hub online
• Statewide organizations like the Texas Community Association Advocates (TCAA)
• Local attorneys who specialize in property owner’s association management

Also seek out educational materials that can debunk property management myths.

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Debunked - 3 Common Management Myths: Myth: “If my association hires a management company, we’ll lose all control!” Reality: A good management company empowers your board’s decision-making by equipping you with the support and expertise you need to effectively run your community your way. Myth: “A strong manager is all a community really needs.” Reality: Even the most experienced managers cannot be experts in everything. A professional management partner should have in-house experts to handle things like accounting, insurance, HR, etc. to free up your bandwidth and avoid burnout. Myth: “Once you turn over your data to new management, they own it.” Reality: Fear not. Your property management company will not own your data, rather, it maintains and ensures its protection through secure third-party software.

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Step 4: Time to bid - prepare a Request For Proposal (RFP).

Now that you’ve made it through steps 1-3, it’s time to bid. This requires sending out a request for proposal (RFP) to prospective management companies. An RFP outlines must-haves and dealbreakers identified by your board.Simplify the RFP process by sticking to this format:

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SummarY Section

Community Section

SCope of contract

submission requirements

Companies can review this section to quickly determine whether they’re a good fit.

Location, size, property type, amenities, staffing situation, current pain points, etc.

The board’s expectations of the management company, including services, software capabilities, fee structures, etc.

Instructions on how to respond, the deadline, and your HOA or COA’s general process for making the final decision.

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Step 5: Let’s meet up – discovery call and site visit.

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Schedule a discovery call and site visit from the prospective management company. When you’re this close to the finish line, here’s how to make the most of both the call and the visit:

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Discovery call

SITE VISIT

In the discovery call: • Ask for specific examples that reveal more about their management approach. • Gain insight into how future calls will be with their staff. • Explore the benefits, not just the features – what makes their services stand out?

On their site visit: • Observe their professionalism. Did they arrive on time? With relevant materials? • Monitor their attention to detail. Are they asking thoughtful, productive questions? • Take note of their interaction with others. Do you sense a pleasant partnership?

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Step 6: Take a board field trip – visit contender companies’ offices.

Don’t just let them come to you - visit them in their daily work environment. This crucial face-to-face interaction allows your board members to:

• Experience the company culture, meet the staff, and see firsthand how the business operates
• Ask on-the-spot questions
• Get a sense of the company's organization, staffing levels, and technology infrastructure
• Assess if the company will be a good fit for your HOA or COA, and determine if their values align with yours

Seeing how they operate on just another Tuesday can provide valuable insights into the company's ability to handle your community's unique needs effectively and efficiently.

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Where can you find references?

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Step 7: Review final proposals and check references.

Before making a final decision, remember: checking a prospective company’s references saves time, money, and headaches in the long run! How?

• Reference checks can provide real insight into a management company's past performance with similar communities.
• Board members can gather feedback on communication style, financial transparency, and responsiveness to concerns.
• They help ensure the selection of a reputable and trustworthy Texas property management company.

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Where does the board find these references? You can find testimonials on management company websites, legitimate reviews on search engines and their social media pages, references provided by contenders themselves, and recommendations from other HOAs and COAs.

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now what?

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Step 8: The easiest step - welcome your new management company!

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Congratulations on crossing the finish line! You and your fellow board members can take a deep breath – the hard parts are done.

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Your HOA or COA can now enjoy simplified day-to-day operations thanks to your new Texas property management company! Remember a smooth transition always starts with solid communication.

See more on smooth transitions

Now what?

• Make the onboarding process exciting with open Q&A sessions and meet-and-greet events with the new management staff.
• Share all your association's governing documents and grant necessary access to new management so they can hit the ground running.
• Provide open communication and extended availability throughout the transition. This will help residents feel at ease with the change and savor the improvements.

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FirstService Residential Texas is happy to have a no-strings-attached conversation on how to simplify your property management.

Looking for a new Texas property management company for your association?

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LEARN MORE HERE