The challenge of stepping back from a founder-led business
Many HOA management companies are founder-led. The owner may hold key board relationships, solve escalations, retain employees, manage vendors, and protect the company's reputation. When the owner steps back, all of that is at risk.
A good succession plan answers these questions before a transaction happens:
- Who holds the key board relationships?
- What happens to the CAM staff?
- How does homeowner communication continue?
- Who manages vendor relationships?
- Where is the institutional knowledge?
- How are service standards maintained?