Management Company Traps - Caution
Homeowner association boards should be very cautious before entering into a management agreement. Specifically, there are some HOA management companies that trap associations into long term contracts because they make it extremely difficult to provide a notice of termination. For example, some management agreements require that a notice be given within a very narrow period of time or the contract is automatically extended for a one year period of time. Sometimes associations are given only a 30-day window of opportunity each year to terminate their management contracts. Do not be trapped. Management companies that trap their clients should be avoided.
How to Interview an HOA Management Company
How are Management Fees Determined?
American HOA Management