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wisemonkey

Condo Management Companies, any recommendations?

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Hi,


The management at my building are doing a pretty bad job, dont know if its incompetency or blatant stealing, for example jobs are being done around the condo and being charged at around 3 times the going rate, a job that was quoted for independently by me was estimated at around 25k for project and the contractor they used is charged 80k  , the same with equipment being purchased, equipment purchased for the common area and was charged at 9500, this EXACT same item can be delivered off Lazada for 1500, countless examples of this in only the few months of accounts Ive looked at, probably been going on for years. 

 

We had a committee meeting and agreed on little jobs that need to be done and processes that need to be followed (such as getting three quotes for each job needing done and having them recorded so we can go back and check, having the handyman that is on sight to finish jobs and make a list of what hes done). These jobs or processes are not getting done/followed. 

 

We have an AGM next month, and I am wanting to bring some alternative management companies up to the meeting to get it voted on and changed, so would be great to hear of anyone with some positive experiences of the management at their condo a company that actually does work and gets things done fairly. Also if anyone else has had experience in getting the management changed at condo, and what the experience is like, cant imagine it being a smooth transition, especially since the job is sort after they get paid well for doing hardly a thing. 

Edited by wisemonkey
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Just to clarify, Im meaning management of the entire condo building, not just someone to manage rental of your room when you are away. Im talking the management company that handles the office, cleaner, security, etc

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Seems to be totally possible that they have some kind of backhander agreement and someone is making money on the sidelines.

 

My condo only hires big companies here and gets offers for every job from at least 2 or 3 to compare them, the offers are archived for transparency.

 

Small stuff is fixed from the in house repair guys, they get a fixed salary and it doesn't cost extra money obviously. Except for material they have to buy for the repairs.

 

Ours is managed by https://en.wikipedia.org/wiki/JLL_(company) american company, big in thailand, but not as sketchy as most thai companies.

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I wished we had owners like you here in my condominium. Most don't care about anything. And those few who care have their reason and business interests. 

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Thanks, for the info. 

 

Its crazy the lack of transparency there is here, and when I ask them whos making the decisions for some of the purchases and what goes into finding a good price, the response was a blank face. There are so many examples of over spending, also I just asked for some simple equipment to be ordered , a high pressure water cleaner, so the cleaner here can get rid of some hard stains on walls, the hallways etc, the product was 5000 baht in cost, and they said they dont have money to just spent like that, meanwhile I just see they , without any approval from the owners, they raised the salary of the girl in the office (who really just is on youtube a majority of the day) by 5000 a month!

 

 

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16 minutes ago, Beggar said:

I wished we had owners like you here in my condominium. Most don't care about anything. And those few who care have their reason and business interests. 

They don't care about the tenants, they care about being ripped off by management.

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Just bumping this thread, I got a quote from a different management company, that is substantially cheaper than our current one. 

 

Company is called Pro house Management , they run a lot of condos in chiang mai:

 

1. North 3 Project (Suthep Subdistrict, Mueang District, Chiang Mai Province) beginning 1 November 61
2. The Prio Condo Project (Wua Lai Road, Haiya Airport Intersection, Chiang Mai Province)
3. The Urbana Housing Project 2 (Chiang Mai - Hang Dong Road) beginning April 17, 61
4. Kan Kanok Ville 5 Housing Development Project (Sankampang Subdistrict, Sankampang District, Chiang Mai) Start 2 May 62
5. Sivalai Housing Development Project (Or San Kamphaeng, Chiang Mai)
6. My Hip Condo 1 Project (Nong Pa Khrang Subdistrict Muang Chiang Mai District, Chiang Mai) beginning 1 August 62
7. The Benefit Condo Project (Second Ring Road, Chiang Mai Province)
8. The Grand Benefit Condo Project (Second Ring Road,
Chiang Mai Province) 9. Chiang Mai Project Riverside Condo (Chiang Mai-Lamphun Road) beginning 2 January 62
10. Housing estate project Chiang Mai Flora View (Talat Khwan Subdistrict, Doi Saket District, Chiang Mai Province) Start 1 June 62
11. Mono Town Housing Development Project (Fa Ham District, Mueang Chiang Mai District, Chiang Mai Province) Start 3 July 62
12. Hinoki Condo Project (318 Village No. 1, Chang Phueak Subdistrict, Mueang District, Chiang Mai Province)
13. The Next Condo 3.1 Project (Chiang Mai-Phrao Junction
Mee Chok Road ) beginning 16 March 61 14. Promt Condo Project (Super High Road Waykharin intersection, Chiang Mai) starting 1 April 61
15. One Plus Condo Project, Khlong Chon 2 (Khlo Road Irrigation Office, Suthep Subdistrict, Muang District, Chiang Mai Province)
16. One Plus Condo Project, Khlong Chon 3 (Khlong Chonlaprathan Road, Suthep Subdistrict, Muang District, Chiang Mai) Starting 1 June 61
17. One Plus Condo Biz Project Business Park 2 (Nong Pa Khrang Subdistrict, Mueang District, Chiang Mai Province)
18. One Plus Condo Business Park 3 Project (Nong Pa Khrang Subdistrict, Mueang District, Chiang Mai Province)
19. One Plus Condo Business Park 4 Project (Nong Pa Khrang Subdistrict, Mueang District Chiang Mai) beginning 16 October 61
20. One Plus Condo Project Chet Yod 1 (Chang Phueak Subdistrict, Mueang Chiang Mai District, Chiang Mai)
21. One One Condo Project Chet Yod 2 (Chang Phueak Subdistrict, Mueang Chiang Mai District, Chiang Mai) Start 2 January 62
22. One Plus Condo
Project CMU 1 (Khlong Chonlaprathan Road, Suthep Subdistrict, Mueang District, Chiang Mai Province) 23. One Plus Condo Project CMU 2 (Khlong Chonlaprathan Road, Suthep Subdistrict, Mueang District, Chiang Mai Province)
23. CAYLA Project (Suthep Subdistrict, Mueang District, Chiang Mai Province)

 

 

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Bad, corrupt management seems to be quite common here in CM unfortunately.

 

I bought in an old building, knew what I was getting in to. More and more units are being bought up and being renovated, mostly by Farang.

 

A few of us banded together and we own over 20% of the building.

 

Another problem, the management owns tons of units in the building... I've seen this with 2 other old condos I looked at, and assume its common, they buy them up at rock bottom prices, then flip them. 

 

We've collectavely been putting pressure on them for repairs, and can finally see some things being done.

 

Meeting coming up, I want to know what money there is, what money has been spent on what, and what is planned to be repaired at what cost. 

 

I've very little confidence in their capabilites, how do you go about replacing them?

 

I take it you vote at an AGM? Anyone know how this works?

 

 

 

 

 

 

 

 

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Yes it comes down to a vote at the AGM, they will vote on keeping management or not, as well as many other compulsory items such as keeping the same accountant, insurance, etc.

 

Usually it only comes down to the people that actually go to the AGM, they need a minimum of 20% owners present to so if you're lucky and there are not too many others present and no proxies, the group of owners you have together could make a lot of changes and vote out current management and get a better more transparent group to run the building. 

 

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On 2/14/2020 at 12:16 PM, wisemonkey said:

Its crazy the lack of transparency there is here, and when I ask them whos making the decisions for some of the purchases and what goes into finding a good price, the response was a blank face

That sounds crazy — in my building we (the committee) make a budget that gets approved by the co-owners on the AGM, this has an account for Service Contracts, Maintenance and Repairs, etc., and any expense not in the budget above 10,000 baht has to be approved by committee chairman and vice chairman, our staff can’t just use money however they like.

 

We post monthly profit and loss statement which show actual expenses versus budget (posting P&L monthly is required by law) so the co-owners can check our finances, although I doubt anyone actually cares.

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On 2/17/2020 at 10:15 AM, banagan said:

I take it you vote at an AGM? Anyone know how this works?

Any co-owner can make whatever proposal they want at the AGM, although sufficient information (about topics to be voted on at the AGM) should be submitted to the co-owners at least 7 days prior to the AGM.

 

Though the main thing you do at the AGM is vote on a budget and committee members. The committee members are there to supervise management, and if they deem the current company unqualified, and changing management company can be done within the passed budget, I would argue that they are allowed to just change management company without an AGM.

 

But if a co-owner makes proposal at the AGM about new management company, and that proposal gets passed, the committee *must* change management company.

 

So if you have a company in mind, make a formal proposal at the AGM, but probably also nominate yourself to be in the committee, so you can oversee the management company and the process.

 

Often it comes down to just spending the energy to get things passed, i.e. there are lots of co-owners who complain about their management company, and they will gladly say at the AGM that “someone” should find better mangement, or company should do better. But it often stops there, few actually go through the process of finding out what the problems are, and how to solve them. If you are ready to put in the work, you can get pretty far!

 

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