After selecting a HOA management service type and candidate firm, carefully consider the proposed management contract.
Hiring a management firm solely on price is a mistake. Associations may discover “you get what you pay for.” Factors affecting the fee are:Advertisement4) What is included/excluded - There are normally a list of extra charges and fees.
The base management fee is the beginning, not the end of a thorough review. Look more deeply at the service level and costs.Legal counsel should review the contract before it is signed, but if not, consider the following key concerns. Space does not permit a complete list of all important items, but here are some to consider.
Kelly G. Richardson is a Fellow of the College of Community Association Lawyers and Partner of Richardson Ober DeNichilo LLP, a California law firm known for community association advice. Submit questions to [email protected].
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