Sunday, March 13, 2016
SURPRISE: New property management company?
SURPRISE: New property management company?
The following is a text by a broker finishing up law school who has been involved with a condominium building dispute. Not having a contract approved by the members was part of the injunction gotten by them in court. I also find the return of money comment very interesting.
"Condocorp CANNOT get mgmt company W/O vote of MAJORITY. Thats clear english in condocode/masterlist. Any appointment not voted by maj, invalid. Officers appointing such mgmt will be liable to return money of corp. If there is a need to get propmgmt, there should be a special meeting attended by majority, present the diff propmanagement offers, then vote on who."
So who will end up paying for this service contrary to the code? A new management company working for Soho Central Condominium Corporation and the Unit Owners ("members") did not vote since no Special Meeting was called. This would seem to violate the corporation code.
Previous post on management - http://sohocentralcondominium.blogspot.com/2016/02/soho-central-condominium-corporation.html
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