Property Management Handover Verification Guide
What does management-handover verification mean?
Management handover is not merely receiving an office key or password. It verifies that the incoming manager can continue owners’ decisions, money controls, contracts, maintenance, risks and obligations without a blind gap. For buildings governed by Condominium Ownership Law No. 634, the management plan and owners’ resolutions must be read with the law: the manager executes administration tasks and decisions, while statutory recordkeeping and accounting duties make the documentary handover central.
1. Verify authority
Start with the resolution appointing the manager or board, term, signing authority and management plan. Match names to identification and contact information and identify who can act with the bank, suppliers and public bodies. If an external management company is engaged, review its service agreement, scope, term and termination. Do not accept “we are the management” without a document connecting the person to a resolution or contract.
2. Verify decision books and records
Request the owners’ decision book, meeting minutes, budgets and operating plans. Article 36 of Law 634 addresses recording decisions, protocols, notices, dates and expenses and keeping the book and supporting documents. Check continuity, required certification/closure formalities and unexplained gaps. An informal spreadsheet should not silently replace the formal records that evidence governance.
3. Verify money and bank position
Obtain the management bank statement, balance at handover, income/expense ledger, owner receivables, supplier payables, advances and deposits where relevant. Reconcile the bank balance to accounting records and source documents. Examine large or unusual payments, related-party transfers and cash items without receipts. Any difference should appear in a signed reconciliation note.
4. Verify contracts and commitments
Build a register of active contracts: security, cleaning, elevators, heating, landscaping, technical maintenance, insurance, accounting and other recurring services. For each, capture counterparty, term, payment basis, automatic renewal, guarantee/insurance, contact, termination and outstanding amounts. Invoices alone do not show the future commitment inherited by incoming management.
5. Verify assets, keys and digital access
Inventory keys to common and technical areas, access cards, remotes, seals, computers, backups, email accounts, supplier portals and authorised camera-system access. Sensitive passwords should be changed after transfer under proper authority. A former manager’s personal email or cloud account must not become the building’s permanent record system.
6. Verify maintenance and safety backlog
Request fault logs, preventive-maintenance schedules, elevator/service records, fire systems, pumps, generators, tanks, roofs, leaks and open technical reports. Identify approved but unfinished works, allocated budget, warranties and invoices. Incoming management needs a risk backlog, not a promotional description of the property.
7. Insurance and claims
Review common-property insurance policies, periods, insured party, coverage limits, open claims and insurer/broker contacts. Distinguish compulsory earthquake coverage where applicable from optional property/liability cover. Every open claim should transfer with a reference number, evidence and named follow-up owner.
8. Disputes, complaints and arrears
Obtain a register of disputes, formal notices, complaints, legal files and unimplemented resolutions, with status and responsible adviser. Review arrears and collection actions while limiting unnecessary exposure of personal data. The incoming manager should not discover an enforcement file or expiring contract only after handover.
Final verification minute
Close with a signed minute identifying documents received, assets and keys, cash/bank reconciliation, transferred accounts, active contracts and open files, plus every outstanding item and deadline. Attach schedules rather than writing “fully handed over” where gaps remain. This minute becomes the auditable opening position for the new management.