I Bid You Good Day Bidding Out Service and Project Contracts

It’s only logical that if something goes wrong and needs fixing at a condo or HOA, it's the board or manager’s job to do some due diligence and choose the contractor that makes the most sense for the community's needs and budget.

This is usually done by gathering bids from several different vendors. After all, if you don’t compare the price and terms quoted to you by one vendor to those quoted to you by his or her competitors, how will you know if you’re getting a fair price, or being taken advantage of? Understanding how to navigate the bidding process—whether it's a manager doing it or the board itself, in the case of self-managed communities—is a crucial component of maintaining an HOA's overall financial health.

Managing Bids

Robert Meyer, director of engineering services for FirstService Residential of Illinois in Chicago, says the company works very closely with the board leadership in assisting them as needed in the bidding process and final decision.

“We do all the legwork in procuring the bids for any services the association would need, and then pass along the bid analysis to the board of directors,” he says. “The bid analysis breaks down in summary form the bid criteria for comparison. It is then the board of directors that makes the final decision on whom to use.”

Nicolas Marin, certified manager of Wesley Realty Group in Evanston says that on a general basis, the board is directing what they are looking for or what type of project they would like to see accomplished.

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