Management Contract Term

Management Contract Term

Recall when surprisingly a copy was given for a better idea as to what the terms are for a better understanding of the management arrangement.

Time to Read and Understand all the Contracts

In fact, time to have all critical records open for immediate inspection in binders as called for in past posts.

Here is Article 3 of the contract with the new management company. The previous contract with Century Properties Management Inc (CPMI) was longer than five years.  This contract is a shorter time period.  This is a very good thing given developments.  Here is a past post on management contracts - http://sohocentralcondominium.blogspot.com/2016/02/soho-central-condominium-corporation.html 


"SERVICE AGREEMENT"

"ARTICLE 3: TERM OF APPOINTMENT"

"Except as terminated pursuant to Article 16 hereof, this Agreement shall be binding for three (3) years commencing on February 1, 2016 and valied through January 31, 2019."