Management Company performance matrix

Contracts favor those who write them.

You can certainly propose monetary penalties.
However, the management company may refuse to agree to it, which will leave you with the options of sign the contract they offered or keep looking for a MC.

No.

The contracts we have with our clients have no such language.

My initial reaction is the parties should discuss why the terms and conditions are not being met and changes should be made to the contract language if appropriate. For example, some of our clients asked for monthly financial reports in their contract, we found quarterly reports present just as useful a picture for small properties with mid-five figure annual budgets and regular recurring monthly/quarterly expenditures for utilities, landscape maintenance, and pest control.

If failure to perform certain tasks continues, consideration should be given to termination of the relationship.

OURS SAYS THEY WILL PAY FOR AUDIT, IF THEY MAKE MISTAKES, HOWEVER WHEN i CALLED THEM OUT ON IT, THEY REFUSED TO HONOR IT.

If the Association requires an audit, the Association shall be required to pay all expenses related to the audit unless
the audit reveals an overall discrepancy in excess of five percent of the budgeted annual receipts or expenses attributed to the gross
negligence of Agent. In such event, the Agent will reimburse the Association for any additional audit expenses directly related to the
discrepancy. Such fees shall be payable monthly in advance on the first day of each month during the term hereof. If the Association
is unable to pay for services on the first day of each month a late fee of $75.00 will be assessed. In the event, any balance remains
unpaid for more than 30 days, CSM is authorized to cease any work on behalf of the Association until such balance is paid in full.

ALSO AVOID ARBITRATAION AND LITIGATION OUT OF STATE LIKE THIS CLAUSE ( WE ARE IN NC, THEY HAVE AN OFFICE IN NC, BUT DISPUTES ARE IN WYOMING!)
15. In the event of any dispute between the parties hereto as to the terms of this Agreement, such dispute shall be submitted to
binding arbitration in accordance with the then current rules of the American Arbitration Association before a single arbitrator
selected from the Panel of Arbitrators of the American Arbitration Association, in Laramie County, Wyoming. It is further agreed
that a judgment on the award of the arbitrator may be entered by any court of competent jurisdiction.

WHEN I SIGNED THE CONTRACT I THOUGHT HOW BAD CAN THEY SCREW THINGS UP IN ONE YEAR. I THOUGHT ABOUT CHALLENGING THEM ON THIS PART OF THE CONTRACT, BUT ALREADY PISSED THEM OFF ENOUGH WITH OTHER CHANGES, LIKE DECREASING CLOSING COSTS FROM $400 TO $150 FOR RESIDENTS.
WELL THEY HAVE TAKEN OVER $2500 OUT OF OUR ACCOUNT AND ARE SO IN COMPETENT IT WASTES A TON OF TIME.

we're in Texas. What smaller company did you end up using?

Mark, can you e-mail me the smaller management companies in Texas y'all used? tristacsr at icloud dot com