The Condo Management Agreement serves as the foundational document governing the relationship between condominium associations and professional management companies in the United States. This contract type is essential when a condominium association decides to outsource the day-to-day management of their property to a professional entity. The agreement typically includes detailed provisions for property maintenance, financial management, administrative duties, and emergency responses. It ensures compliance with federal regulations like the Fair Housing Act and state-specific condominium laws, while protecting the interests of both the association and the management company.
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1. Parties: Identification of the management company and condominium association
2. Background: Context of the agreement and property details
3. Definitions: Key terms used throughout the agreement
4. Scope of Services: Detailed description of management services to be provided
5. Term and Termination: Duration of agreement and conditions for termination
6. Compensation: Management fees and payment terms
7. Insurance Requirements: Required insurance coverage and limits
8. Responsibilities of the Association: Duties and obligations of the condo association
1. Emergency Services: Procedures for emergency situations and 24/7 coverage requirements
2. Special Projects: Terms for handling renovation or improvement projects
3. Staff Management: Terms regarding on-site staff employment and management
1. Schedule A - Property Details: Detailed description of the property and units
2. Schedule B - Fee Schedule: Detailed breakdown of management fees and charges
3. Schedule C - Service Specifications: Detailed scope of services and performance standards
4. Schedule D - Insurance Requirements: Detailed insurance specifications and requirements
5. Appendix A - Maintenance Schedule: Regular maintenance and inspection schedules
6. Appendix B - Emergency Procedures: Detailed emergency response procedures
Relevant legal definitions
Agreement
Association
Board of Directors
Common Areas
Common Elements
Condominium
Condominium Documents
Condominium Property
Declaration
Effective Date
Emergency Services
Fiscal Year
Governing Documents
Limited Common Elements
Management Company
Management Fee
Management Services
Manager
Operating Account
Operating Budget
Owner
Property
Reserve Account
Reserve Fund
Rules and Regulations
Service Providers
Term
Unit
Unit Owner
Vendor
Association
Board of Directors
Common Areas
Common Elements
Condominium
Condominium Documents
Condominium Property
Declaration
Effective Date
Emergency Services
Fiscal Year
Governing Documents
Limited Common Elements
Management Company
Management Fee
Management Services
Manager
Operating Account
Operating Budget
Owner
Property
Reserve Account
Reserve Fund
Rules and Regulations
Service Providers
Term
Unit
Unit Owner
Vendor
Clauses
Appointment and Authority
Scope of Services
Term and Termination
Management Fees and Compensation
Insurance and Indemnification
Financial Management
Maintenance and Repairs
Emergency Services
Record Keeping
Compliance
Communications
Staff and Personnel
Confidentiality
Property Access
Vendor Management
Budget Management
Reserve Fund Management
Reporting Requirements
Health and Safety
Assignment and Delegation
Force Majeure
Dispute Resolution
Governing Law
Notices
Severability
Amendments
Entire Agreement
Liability Limitations
Non-Competition
Conflict of Interest
Scope of Services
Term and Termination
Management Fees and Compensation
Insurance and Indemnification
Financial Management
Maintenance and Repairs
Emergency Services
Record Keeping
Compliance
Communications
Staff and Personnel
Confidentiality
Property Access
Vendor Management
Budget Management
Reserve Fund Management
Reporting Requirements
Health and Safety
Assignment and Delegation
Force Majeure
Dispute Resolution
Governing Law
Notices
Severability
Amendments
Entire Agreement
Liability Limitations
Non-Competition
Conflict of Interest
Relevant Industries
Relevant Teams
Relevant Roles
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