How Is Manager Change and Handover Done?

Why Is a Proper Handover Important?

A manager change is not just one person being replaced by another. Money, documents, contracts, and responsibilities change hands. A handover not done properly leads to confusion about "which money went where, which document is where" and to accounting disputes. A good handover protects both the departing and incoming manager.

Documents to Be Transferred

Main items that must change hands in the handover:

• Decision book and operating ledger
• Income-expense records, receipts, and bank account information
• Dues debt status and collection ledger
• Contracts (elevator, cleaning, insurance, personnel)
• Keys, common-area access
• Fixed asset list

You can review our dues ledger article for the transfer of the dues ledger.

Closing the Accounts

The departing manager must close the accounts for their period and present them to the board of unit owners. The cash/bank balance, receivables, and debts at the handover moment must be clear. This account is the line where the departing manager\'s responsibility ends and the new manager\'s responsibility begins. We covered the obligation to give account in our operating ledger and accountability article.

Handover Record

The handover must be documented with a written record. The record lists what was handed over (balance, documents, keys) and is signed by the parties. This record prevents future disputes such as "this document was not given to me." A documented handover is a security for both parties.

The New Manager\'s First Tasks

The manager starting the role should examine the situation they have taken over: check the accounts, review the debts, evaluate the contracts, and make a plan for the new period. We explained the basics of being a manager in our being a manager article.

Common Mistakes

• Handover without a record: A handover without written documentation creates responsibility confusion.
• Not closing the accounts: A handover without closing the period\'s accounts leads to disputes.
• Incomplete document delivery: Missing contracts/keys hamper the new management.

This content is for informational purposes. The handover process should be adapted to your building\'s situation.