What are the Pros & Cons of having a property manager?

How much power can they wield?

Is it worth the money?

See our page on ONLINE Banking, Quicken

Pro

Code of Ethics they promise to follow if they belong to the various organizations.

CACM  CA Assoc of Community Managers

Management Firm Ethics CACM

Con

Hold Harmless Agreements

Unlawful Practice of Law

Wrongful Billing – Usury?

 

Links & Resources

CA Dept of Real Estate – Operating Cost Manual – Administration – Management

Business Judgment Rule, which requires that decisions by directors be:

  1. In good faith,
  2. In a manner which the director believes to be in the best interests of the corporation, and
  3. With such care, including reasonable inquiry, as an ordinarily prudent person in a like position would use under similar circumstances. (Corp. Code §7231(c).)

Code of Ethics CACM

Los Angeles Times 1.4.2015 – Manager should NOT interfere with meetings!    There is no requirement that managers even attend board meetings, and it is generally better if they do not.  There are many board directors’ duties that are non delegable, and as fiduciaries, board directors cannot delegate statutory duties to anyone.  managers  are not to interfere with the business of the board and the association.   Are the board members acting in good faith and in the best interests of the association and its titleholders?    If there is confusion about the rules and logistics of these meetings the board’s questions are better put to the association’s counsel than the manager.

Knolls Village doesn’t appear to have a property manager?

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