Reasonable Inquiry

Started by LindaL6 • 2 replies • 1301 views

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LindaL6 (California)
Posts: 62

Posted:

I know I'm asking a lot of questions (I don't sleep well at night). The board is supposed to conduct reasonable inquiry. What would that mean in terms of hiring vendors? Particularly in terms of hiring a company to conduct the reserve study. What qualifications should they look for? All our vendors are the manager's friends; which has me concerned.
Linda

SusanW1 (Michigan)
Posts: 5,202

Posted:

Your documents should define 'reasonable inquiry' but I suspect it means to take bids on jobs.

Our policies and procedures state that the board should seek sealed bids for any contracts over a certain amount of money.

It does not matter if 'friends' work for the HOA, just that they pass the conflict of interest test and go thru the bidding process. Everything should be in the minutes, too.

SusanW1 (Michigan)
Posts: 5,202

Posted:

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