Question:
We want to replace the builder selected HOA management company – which is out of state – now that all of the homes have sold with a Board of Directors – what are the steps?
– Vickie
Answer:
If your HOA has transitioned from the developer to the homeowners, you may replace the HOA management company by first reviewing your HOA’s contract with them. Check to see when the contract is set to expire. If you wish to replace them prior to the expiration date of the contract, you may need to pay a termination fee according to the contract.
To replace your HOA management company, you should evaluate your needs. What services are you looking for? What is your budget? Then, you should start putting out requests for proposals. You may access a free template here: https://www.
Once you have reviewed the proposals, your HOA board can make a decision. Here is an article you might find helpful during this process: https://www.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
