Managing Agent Recommendation

If you’re still looking, EBMG, LLC (www.ebmg.com)

One of our coop board members just forwarded me this thread. Our firm is Building Equity Management, perhaps the best rated firm in the city on Yelp. You can reach me at mvinocur@bemnyc.com if you'd like more information.

Michael Vinocur
Building Equity Management

I would avoid the big firms such as Douglas Elliman Property Management and get small efficient guys such as:

http://www.abcmgmt.net/
https://www.crystalrmi.com/
etc...
Nicole @ NestApple

Good luck

Hi, I'm on the board of a very small coop building in Midtown West, and we're considering changing our management agents.
Can anyone recommend their current management agents? We prefer dealing with a small company, but it seems like no one in NYC likes theirs. Thanks!

The name is right in this thread. Building Equity Management. Mike Vinocur.

Question - when a building needs a large repair, what is the vendor selection procedure for an honest managing agent? Do they ask the board to go and field multiple quotes, etc. or is it typical for the managing agent push for a specific vendor to be used, or does the managing agent help field a few quotes?

How can I be sure that a managing agent isn't receiving kickbacks from a contractor, plumber, etc. that they essentially push the building/board to hire?

The best way is for Board members do go out and find their own recommendations and then get several quotes, but that requires work so they usually just leave it up to the managing agent who simply picks whomever makes their life easiest.

In our building we have the managing agent get quotes, usually with input from board on vendors.

Interesting topic here, never really thought much about it. Is the process/procedure for dealing with repairs listed in the management agreement, or is it more open ended?

Agree that it's critical to field multiple quotes. Can't just let someone choose the path of least resistance - as that usually means the most expensive.