official termination?

Started by JC3 • 2 replies • 1078 views

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JC3
Posts: 290

Posted:

The management contract permits 30 day notice to terminate services by either side, sent registered mail. If the mc gives us that notification at a board meeting, simply written on a sheet of paper, is that an official termination of mc services, or should we wait (or ask for) one by registered mail?

PaulM (Pennsylvania)
Posts: 1,347

Posted:

JC3: It would depend on how 'absolute' you want to be. Was the termination "simply written on a sheet of paper", written on official letterhead from the Mgmt. company? If so, IMO, that warrants an
'official' document of termination provided the 30 day notice was given as your contract states. Further, I would acknowledge by return correspondence that it was received, accepted (or not, if the 30 days was not followed) and, the effective date by which they will have to render association documents (per contract) to you.

We are aware you are in the interview process for a new mgmt. company, and,
hope all goes well in the transition. It is not uncommon for the 'new' mgmt. company to work with the 'old' in securing all relevant documents and financial information. They, too, have their own network and must remain compliant to ensure their reputation is maintained.

ShawnaF (Colorado)
Posts: 84

Posted:

I would accept it personally, it's obviously ending and why put both of you through more work to get it registered. Is there a reason it happened so abruptly? Will they work with you to extend a bit - 30 days it tough depending upon how many services you're receiving.

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