LewP1
Posts: 1
Posts: 1
Posted:
when hiring a management company, is a vote required from homeowners.
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hiring a management company
Started by LewP1 • 4 replies • 1504 views
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GlenL
Posts: 5,429
Posts: 5,429
Posted:
No that would be the duty of the Board. As a rule the only thing homeowners get to vote on are elections/recalls and amending the documents. Everything else is a Board duty.
GlenL
Posts: 5,429
Posts: 5,429
Posted:
One caveat I forgot, in some states, the contract a Declarant signs with the MC is only valid for six months to a year after turnover to the homeowners unless renewed by a majority vote of the homeowners. Check your local HOA laws.
FredB4
Posts: 371
Posts: 371
Posted:
Check your Declaration of Ownership. Until we changed it, we couldn't hire a management company without a 75% vote of the owners.
TimB4
Posts: 20,986
Posts: 20,986
Posted:
Lew,
Typically, no membership vote is required.
However, as Fred pointed out, there may indeed be such a requirement in your governing documents. You will need to read them to be sure.
Now, often the expense of hiring a management company may force a membership vote on the issue. This would be due to limitations in how much the Board may raise assessments. If the expense of a MC is greater than the Board's limit, either other expenses will need to be cut or a membership vote to approve an increase in assessments above the Boards limit would be needed.
Tim
Typically, no membership vote is required.
However, as Fred pointed out, there may indeed be such a requirement in your governing documents. You will need to read them to be sure.
Now, often the expense of hiring a management company may force a membership vote on the issue. This would be due to limitations in how much the Board may raise assessments. If the expense of a MC is greater than the Board's limit, either other expenses will need to be cut or a membership vote to approve an increase in assessments above the Boards limit would be needed.
Tim
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