Management Contract

What term should a management company's contract reflect? 12months or less? Any information would be greatly appreciated.

Also, how much should we pay a management company to manage a 100 unit upscale condo association?

Katl,
As in all new business contracts, do what you would normally do. Get as many bids as you can. Try to make the services required the same in each solicitation. Talk to associations they do business with, check BBB. Have more than one member present at al meetings. Are they local? Are they large, etc, etc.

Do not be pushed into signing any long term contract. Do not obligate the association until you are firm about what the provide and what you want. Do your own investigating. Like a blind hog looking for acorns, once in a while you get luck, hard work is a better way to go.

As far as what they charge, they willl charge what the market allows....everywhere. Pick the one that suits you best and that includes you all knowing how much you can spend. Look at links on this site for help. Repeat, decide what to do, and then think, suppose I am wrong, don't obligate your association any more than you have to and being a first timer, you should be able to get a years contract. It take the company time to establish its presence, it take time for you all to learn how to work with them. They don't do what you want, talk to them, don't wait. There are good ones and bad ones and with 100 upscale units you should be able to swing the deal. It does make a difference if you are condo or HOA, so be sure you compare them as ne or the other.

The real secret here is as usual, how well do you all get along balanced against the cost and service.