HOA Mgmt Companies owned by a resident

Started by JimT2 • 1 replies • 2282 views

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JimT2 (Nevada)
Posts: 2

Posted:

We are soliciting bids for a professional HOA Mgmt. Co. to manage our 170 single family home association.
One of the bids comes from a resident in the neighborhood.
This is a second Job type of endeavor for the two partners.
There is concern over ethics, conflict of interest, etc.
I would like to hear what anyoone else may have to say on the topic.

RogerB (Colorado)
Posts: 5,067

Posted:

What state? If it is a competative sealed bid the resident should have an equal right to be considered, otherwise there is discrimination. However, to remove any appearance of a conflict of interest proper bidding is required. If they are a member of the Board I would ask for their resignation letter as a condition if they are awarded the bid. The most important considerations should be quality of the company, quality of their service, and cost.

RogerB

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