Switching property management companies is one of the biggest decisions a condo or co-op board can make - and for many boards, the idea alone feels overwhelming. There’s a lot at stake: the building’s finances, operations, maintenance, communication, and resident experience all depend on getting the transition right. Understandably, there’s anxiety about what the process involves, what could go wrong, and how much work will fall on the board’s plate.
The reality is that switching management is a big lift, and it’s normal for boards to feel overwhelmed by everything involved. But it doesn’t have to be chaotic or confusing. When you understand what’s happening behind the scenes, the process becomes much more manageable — and it starts to feel like an opportunity, not just a disruption.
Handled thoughtfully, a management transition can stabilize a building, strengthen communication, and set your community up for a healthier future.
Why buildings decide to switch
Boards don’t switch managers lightly. Most buildings make the change because of one or more of the following:
- Slow or inconsistent communication
- Limited visibility into financials or recurring accounting errors
- Maintenance slipping through the cracks
- Lack of vendor oversight or outdated contracts
- Inadequate support around local laws and compliance
- Misalignment on expectations or service level
These are the gaps Daisy was built to eliminate, and why so many boards come to us looking for more structure, responsiveness, and transparency.
What actually happens once a board votes to switch to Daisy
Many people assume one company leaves and another steps in. In practice, a strong transition is detailed, coordinated, and depends heavily on how organized the outgoing manager is. Daisy’s process is structured to create clarity as quickly as possible.
1. The file transfer begins
This is the most critical step in any transition.
The outgoing management company must provide:
- Financial statements and reconciliations
- Bank account information
- Vendor contracts and COIs
- Resident and shareholder rosters
- Compliance history and filing schedules
- Open work orders and violations
In the industry, this step can be chaotic. At Daisy, we use a standardized intake process to ensure nothing gets missed, we have a team that is dedicated exclusively to onboarding your building.
2. Financial systems and owner accounts are rebuilt
Daisy sets up a new bank account for the building's funds, which is connected to the Board dashboard where boards can see their buildings finances in real time. Daisy sets up accounting systems, owner portals, payment channels, and reporting tools.
This stage often reveals discrepancies or outdated vendor arrangements, which is normal. The goal is to rebuild clean, accurate financials so the board starts with a clear picture.
3. Vendors are reintroduced and re-evaluated
We contact existing vendors, review agreements, and ensure proper insurance.
This is where many boards discover missing COIs, outdated contracts, or pricing that hasn’t been reviewed in years.
4. Compliance is scheduled from day one
Daisy schedules all the required tasks associated with upcoming deadlines across Local Law 11, LL152 gas piping, boiler inspections, elevator testing, and more.
It’s common for buildings to learn they’re not up to date, which is why Daisy prioritizes compliance checks immediately.
5. A full building walkthrough happens
Our team evaluates the property’s physical condition, looks for deferred maintenance, and builds a list of short-term and long-term needs.
For more context, see our guide on how to avoid deferred maintenance.
6. Residents get clear communication channels
At Daisy, we contact residents early with:
- How to get support
- How to setup payments
- What expect with Daisy
The goal is to eliminate confusion from day one.
What residents often misunderstand during transitions
These themes come up almost every time a building switches managers — regardless of the company:
“Why isn’t everything fixed immediately?”
Some issues require historical data, vendor changes, or system setup before they can be addressed.
“Did the new management raise fees?”
No, only the board determines increases. We do recommend it sometimes if after reviewing the buildings financials have determined there's projects that require additional funds.
“Why are old problems coming up now?”
Transitions surface issues that were previously undocumented or unaddressed.
“Is the early transition period supposed to feel busy?”
Yes. The first 30–120 days involve rebuilding information and organizing operations, uncovering messy longstanding issues. What matters is that things steadily improve, something Daisy prioritizes heavily.
How boards can tell if their transition is going well
A smooth transition doesn’t mean “perfect.” It means:
- Communication is steady and clear
- Financials are being rebuilt accurately
- Maintenance requests are moving through proper workflows
- Vendors and COIs are organized
- Compliance dates are mapped
- Issues are being surfaced
Boards usually feel the shift toward order and clarity quickly when the process is done well.
If your board is considering a change
Switching management is a big decision, but it can also be a turning point for the building. If you’re evaluating options, here’s a transparent look at how Daisy handles transitions.
The bottom line
Switching management companies can feel overwhelming. But with the right partner, the process becomes structured, transparent, and surprisingly stabilizing. A strong transition doesn’t just replace a management company. It gives a building the foundation it needs to run better for years to come.
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