When a Management Transition Goes Quietly Wrong

A management company transition should be routine: the old firm hands everything off, the new one takes over, and life goes on. But Carl Cesarano, principal at Cesarano & Khan, has spent years watching these handoffs quietly unravel, leaving boards scrambling months later when the annual audit comes due and nobody can locate records. Boxes get shipped, stored, and forgotten. Agents blame each other. And suddenly a building that's been operating for decades finds itself unable to produce a basic financial statement.Cesarano breaks down the questions boards rarely think to ask during a handoff, and why a treasurer's diligence in the first few weeks can make or break an entire fiscal year. It's a study in what happens when "we'll sort it out later" becomes the plan, and a roadmap for making sure your building doesn't end up in the same bind. Habitat's Carol Ott conducts the interview.Thanks for listening. Subscribe to this podcast for more stories on how New York co-ops and condos have solved a myriad of problems. Brought to you by Habitat Magazine, the "bible" that hundreds of board directors turn to every day!