1. Review the current management agreement before setting a date.
Confirm notice requirements, termination provisions, renewal dates, record-return obligations and any transition-related fees. The board may want association counsel to review contractual or legal questions.
2. Build a complete transition inventory
List the information and property that must transfer: governing documents, minutes, owner records, assessment ledgers, bank information, financial statements, tax records, insurance, contracts, keys, access credentials, vendor contacts, architectural files, violation records and open projects.
3. Reconcile the financial conversion
Do not treat accounting as just another folder transfer. Opening balances, bank accounts, receivables, payables and reserve funds should be reconciled so the new manager begins with a reliable financial picture.
4. Document every open operational matter
Create a list of maintenance items, insurance matters, legal or collection issues, vendor proposals, resident concerns and board-directed projects. Each should have a current status and next action.
5. Transfer vendor and contract knowledge
Collect contracts, renewal dates, pricing, contacts, service history and outstanding invoices. Identify any vendor work scheduled during the transition window so responsibilities are clear.
6. Plan owner and resident communication
Owners need clear instructions for payments, requests, forms and contact information. Send notices early enough to reduce confusion, especially if payment methods or portals will change.
7. Define the first 90 days
The new manager and board should agree on immediate priorities, reporting cadence, meeting schedule, escalation paths and unresolved issues. A transition is an opportunity to fix broken processes, not simply move them.