Making the Switch
- Onyx Capital Management
- May 11
- 3 min read

🏡 How HOA Boards Can Transition to a New Property Management Company — A Nationwide Guide
Understanding the Role of Management, How to Evaluate Providers, and What to Expect in a Smooth Transition
⚖️ Understanding the Role of Property Management
An HOA management company supports the board—not replaces it. Their core responsibilities typically include:
Financial services: budget prep, dues collection, reserve tracking
Maintenance coordination: vendor scheduling, inspections, work order follow-ups
Communication: resident inquiries, community updates
Recordkeeping: governing docs, contracts, violations, meeting minutes
Support: enforcement of board policies, not creation of policy
Important: A property manager should never act independently of the board’s authority. Their role is advisory and administrative—not executive.
“After hours of venting to our Collections Attorney, he provided our Board with a few compatible candidates. Getting a referral from a trusted and knowledgeable partner who is familiar with the style and professionalism of other property management companies was the key move to our success”— HOA Board President, Philadelphia
❌ When It’s Time to Reevaluate Your Management Partner
Across high-rises, townhomes, and suburban developments, HOA boards often encounter:
Poor communication and long response times
Inconsistent accounting or financial discrepancies
Missed maintenance schedules or inadequate vendor oversight
No digital portal or outdated technology
Overstepping board authority
If you’ve experienced any of the above, it may be time to consider a change.
✅ What to Look for in a New Property Management Partner
Before making a switch, consider the following essentials when evaluating companies:
Transparent financial systems
Reliable digital platforms for residents and board members
Experience with your property type (high-rise, townhomes, master-planned communities)
A strong referral base from other HOAs
Knowledge of local/state compliance regulations
📍 Pro Tip: Ask for referrals from legal counsel, realtors, insurance brokers, and board members in neighboring communities.

🔄 The Transition Process — Simplified
A smooth transition protects your HOA from disruption. Here's what a typical changeover looks like:
Review your current management contract
Issue a formal notice of termination
Notify homeowners early and clearly
Hire and onboard the new management company
Transfer documents and financials, including:
Governing documents (bylaws, CC&Rs)
Budgets and bank records
Past board meeting minutes
Service contracts, warranties, insurance policies
Request essential compliance materials from the new company:
🛡️ Fidelity bond
📝 Business license
📋 Proof of general liability & E&O insurance
Launch resident access to the new portal and communication system
Update banks, vendors, and legal counsel with new contact info
🧱 Rebuilding Trust & Setting a Stronger Foundation
Changing management isn't just about solving problems—it's about setting your community up for future success. A new partnership allows your board to:
Reestablish proper boundaries
Clarify governance and communication standards
Launch modern tools (virtual portals, real-time reporting)
Build a forward-looking plan with community goals in mind
“We didn’t realize how toxic our old setup had become until we made the change. The board is more confident, and the community is more engaged.”— HOA Board Member, Colorado
🚧 What If the Outgoing Company Won’t Cooperate?
Some companies may delay or complicate the handoff. If this happens:
Document all communications
Lean on your new management company and legal counsel
Preserve what records you can access
Keep residents informed every step of the way
📣 Transparency Is Key — Keep Your Community Informed
Use regular updates, emails, and Q&As to help homeowners understand:
Why the change is happening
What improvements they can expect
How to access new systems and support
A transparent process builds trust and reinforces the board’s commitment to the community.
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