Luxmanor Citizens Assn.

Pitfalls of HOA Community Manager Contracts

Posted in: Montgomery County MD
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  • hotdog
  • Valued Neighbor
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Reviewing HOA Community Management Contracts

 

One aspect of every Board of Directors is to have to review and approve of community management contracts.  These are contracts that are normally provided by professionals with backgrounds and training in providing services to HOA communities.  The pitfalls of these types of contracts is that many favor the management companies and don't always provide for the Boards of Directors to have total control even over their HOA bank accounts.

 

See an example of the type of contract to avoid:

 

http://www.mediafire.com/?sharekey=a58fbaa02c953e81e62ea590dc5e5dbb06c886f5e47d4856597b5d7f10aaff85

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