Condo Management Agreement

It is legally binding and clearly defines the obligations and expectations of each party. In this case, the contract would detail what is expected of the property management company and what the responsibilities of the owner are. You want to try to avoid signing a long agreement until you have proven results from the management company and confidence in it. Unfortunately, most management companies will not sign a contract for less than a year. In this case, you should carefully review the termination clause and ensure that you can terminate the contract if you are not satisfied with the service. You must normally terminate the contract between 30 and 90 days in advance to terminate the contract. Make sure the agreement also states that the home management company must notify you at least 30 days in advance if it decides to terminate the contract. Don`t immediately exclude a home manager because it seems like they`re collecting higher fees. Home managers who receive lower departure fees may charge more for « additional customs duties, » such as occupying empty spaces, paying bills, maintenance issues, and evacuation procedures. You need to read the administrative agreement very closely in order to determine which services are actually included in the administrative tax and which services are considered additional services and require additional payment…

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