Agreed Termination of PM Contract

Started by CathyT1 • 1 replies • 1226 views

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CathyT1 (Washington)
Posts: 68

Posted:

Both our HOA community and our PM have agreed to terminate our contract. The contract terminates on Jan. 31, 2008. However, the PM is unwilling to answer simple day-to-day questions concerning the running of our HOA. Annual dues are/were due in Jan. I simply asked what has come in, who still owes and what is in our bank account, as well as other documents, including Articles Of Inc. and our EIN for the community. They refuse to provide us this information for the past two weeks. What should we do? Should we seek legal advice.

ShawnaF (Colorado)
Posts: 84

Posted:

Wow - what is their response? Does the contract say that they continue services upon notification of approaching termination - just check to make sure there is NO wording there? Do you have another PM in line to take over? Maybe the other PM can assist you with a demand letter. Has the Board been getting things up until now that are okay - such as financials and bank statements? You may end up needing an attorney to send a demand letter.

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