TRANSITION AND IMPLEMENTATION PLAN
The Nouveau Transition Team follows a systematic approach to ensure a smooth transition for properties joining our portfolio. Our detailed process confirms that all necessary documents and records are collected, minimizing the risk of service interruptions. While we aim to complete this transition within the first 30 days, responsiveness from the prior management company may extend the timeline to 2-3 months to ensure all critical and historical documents are in place for successful property management.
Once the client notifies the outgoing management company of termination, we immediately initiate contact, and the transfer of paperwork begins without delay. Our top priorities are opening new bank accounts and securing payroll arrangements to prevent disruptions in payments to vendors and building staff.
As soon as the Board approves the management transition, we distribute an announcement letter to all unit owners and residents. This letter provides detailed instructions regarding common charges, billing processes, and payment options.
Upon officially assuming management, we meet with building staff, introduce ourselves to residents and unit owners, and work closely with the Board. We also ensure that all required registrations are filed under Nouveau’s name and review vendor contracts, insurance policies, and corporate documents for accuracy and comprehensive coverage. Our transition process is designed to be smooth and efficient, minimizing any disruption to residents and staff.
Two-Scenario Implementation
We prioritize the best interests of the building in every transition. The following two implementation scenarios are available:
1. Standard Transition
The building’s services are seamlessly migrated into Nouveau’s management system.
2. Self-Management Setup
We assist you in setting up services under your building name. This approach allows for complete self-management, ensuring that access permissions are pre-configured. With this setup, you avoid the need to change account numbers or face future transition challenges.