How to get rid of a current Property Management?

Started by HanhN1 • 3 replies • 1174 views

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HanhN1 (California)
Posts: 64

Posted:

I need your help and suggestion.

My association homeowners have found a good local PM about 4 miles away. Two new board members wanted to hire this PM, but the other three board members who have been on board for a long time at least 8 to 20 years. The current PM is so far about 30 miles away. The current PM and the three boards are always having arguments with the new two boards every single meetings. For example, the two new boards wanted to have copies of invoices and copies of images of paid checks that reflects the bank statements in the Board packets, but it never gets done.

How to terminate the current PM? Thanks

IreneC (North Carolina)
Posts: 111

Posted:

First you must determine if you are on a contract or if it is month to month. If you are month to month then you usually have to give 30 days notice before termination of your PM.

Your board majority rules. If they do not wish to get a new PM then majority rules..
I am a bit confused about the lingo of your question. Your board as a whole must decide with majoriyt one way or another to fire and hire a PM

SusanW1 (Michigan)
Posts: 5,202

Posted:

You said: "For example, the two new boards wanted to have copies of invoices and copies of images of paid checks that reflects the bank statements in the Board packets, but it never gets done."

Why?

IMHO, this seems like micro-managing. The Bills get pre-approved for payments, so why does the Board have to see all this detail?

If you suspect something, then your Finance Committee (treasurer and 2 other members at large who are NOT Board members) can go over all the little details and an audit/review will give you an overview of the situation. A report can be given to the Board.

Boards GOVERN!

RogerB (Colorado)
Posts: 5,067

Posted:

Hanh, if a majority of the Board members want the PM to provide extra items not in the Agreement and are willing to pay the cost then I think the PM would provide these. So far you have not indicated a majority want these. So why do you want to get rid of the PM? It appears your complaint is you have not been effective in getting the three more experienced Board members to agree with your motions.

Perhaps you can be more effective by convincing the Board on the need to establish policies and procedures. For example: 1) not allowing the PM to sign checks;
2) independent monitoring of accounting. Such as, receiving key financial reports, plus bank statements for independent verification. In addition consider a yearly financial review; and
3) have theft insurance.

We email financial documents to the Treasurer, and other Board members (or members of a Finance Committee) monthly; it is in the management agreement and is part of our basic monthly charge.

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