Hiring a Property Management Company

Meeting

Let’s assume that your board has decided that hiring a property management company is the best way to look after the day-to-day work of managing your co-op. There is more than one way to go about finding the right company. For co-operatives in Ontario, you can interview management firms from our Vendor of Record (VOR) List.

If you are outside Ontario (or you can’t find a suitable firm on the VOR List), you will want to choose a property-management company through a Request for Proposals (RFP). Our Guide to Hiring Property Management Services through a Request for Proposals will lead you through the process step by step. It provides a timetable for your co-op to follow and a complete set of forms to use. These include a summary of your co-op’s requirements, instructions for preparing an RFP, a proposal form for bidders to fill out, and a checklist that you can use to assess each proposal

Our guide also refers you to other places where you can find information, such as CHF Canada’s Resource Centre.

Guide to Hiring Property Management Services through a Request for Proposals

Agency for Co-operative Housing
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Timetable for Hiring a Property Management Company

Agency for Co-operative Housing
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Summary of Co-operative and its Management Requirements

Agency for Co-operative Housing
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Proposal Form

Agency for Co-operative Housing
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RFP Instructions

Agency for Co-operative Housing
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Capacity Evaluation

Agency for Co-operative Housing
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Property Management Company Evaluation Tool

Agency for Co-operative Housing
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Capital Plans and Contributions

Question: Which Agency clients are best at planning for their future? 

Answer: The 26% with approved capital reserve plans. These co-ops contribute 68% more to their capital reserve than those without a plan.