HOA Homefront: Selecting a management company — the contract

The previous HOA Homefront column discussed choices in association management. If the association decides to hire a management firm to provide service, the management contract should be an important point of focus for the board.
Price is not everything: Hiring a management firm solely on price is a mistake.  Associations may discover “you get what you pay for.” Factors affecting the fee are:Level of service desired.
Workload or the number of accounts the manager handles.
Quality