BuddyJ (Maryland)
Posts: 37
Posts: 37
Posted:
Does a Property Management Company in Maryland need to have an accountant on staff who has their CPA? Thank you
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Property Manager Accreditation
Started by BuddyJ • 3 replies • 961 views
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SheliaH (Indiana)
Posts: 6,964
Posts: 6,964
Posted:
If you have a legal question, you need to consult a private attorney.
That said, I wouldn't think this would be a mandatory requirement. Some of the business sites I've review say it's a good idea to hire a CPA if you want someone to do more intense stuff than bookkeeping, such as tax preparation, auditing services or developing an accounting system. If your property manager doesn't want to hire one for whatever reason, I don't see any reason why your HOA can't hire its own accountant - in fact, it would be helpful to have an outside pair of eyes who can go in and look at the HOA's books for auditing and determining if the management company is doing what it's supposed to do.
That said, I wouldn't think this would be a mandatory requirement. Some of the business sites I've review say it's a good idea to hire a CPA if you want someone to do more intense stuff than bookkeeping, such as tax preparation, auditing services or developing an accounting system. If your property manager doesn't want to hire one for whatever reason, I don't see any reason why your HOA can't hire its own accountant - in fact, it would be helpful to have an outside pair of eyes who can go in and look at the HOA's books for auditing and determining if the management company is doing what it's supposed to do.
If it is not right do not do it; if it is not true do not say it. Marcus Aurelius
TimB4 (Tennessee)
Posts: 21,059
Posts: 21,059
Posted:
Buddy,
I don't think the MC even needs a license in Maryland.
I don't think the MC even needs a license in Maryland.
TimB4 (Tennessee)
Posts: 21,059
Posts: 21,059
Posted:
Additionally, if I wanted a CPA, I would hire one outside of the MC (trust but verify).
Why is it that you are asking?
Why is it that you are asking?
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