WHO SIGNED THIS?

By Darlys Walker

Published May 14, 2014

 

When assuming management of a community, I can’t tell you the number of times I’ve heard Board Members complain about all the contracts that the previous LCAM signed on behalf of the Association without the Boards approval or knowledge!

  

The most important contract the Board and their Legal Counsel should carefully read is the Management Contract! Many of you may think this comment is self-serving, but I assure you it is not. Management agreements can give all or none of the Boards authority to the LCAM! It’s important to fully understand just what you’re giving them permission to do on the Associations behalf. Listed below are just a few things to look at.

  1. Who has the authority to sign contracts?

  2. What dollar expense amount requires Board approval?

  3. Can they obtain a Debit or Credit Card in the Association's name?

  4. Who chooses the vendors?

  5. What additional charges might the Association incur from the LCAM?

  6. How easily can the Management Contract be terminated and at what cost?

Fully understanding what the Manager/Management Firm has the authority to do and when items should be brought to the Board is key to ensuring unapproved contracts are never signed. In our Firm, all staff members are informed that they may NEVER sign a contract on behalf of the Association and doing so is grounds for termination. By having a detailed Management Agreement the Board can control the processing of all other contracts.
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Darlys Walker, Founder and CEO of Condominium Concepts Management, Inc. (CCM), is recognized for her straight talk, subject matter expertise, and valued insights regarding real  

state management, leasing, and HOAs. Her company serves a diverse portfolio of properties, from 16-units up to 600 as well as large mixed-use developments.  

 

   From its beginnings in 2000, CCM has become a well-respected asset manager and now works with over 100 associations with 16,000 units served by over 300 employees. Darlys and her team deliver resources and responsiveness through six regional offices - in Orlando, Miami, Jacksonville, Charleston, Nashville and Atlanta.

  

   Darlys Walker is best known for her passion and precision, understanding that the only difference that matters in today's demanding marketplace is service delivery ... doing what is promised and what is right. She knows that every community serves two masters ... the property owner/developer and the resident/homeowner. "If we are not equally responsive to both, we are not doing our job," she states.  

 

   Her clients say it best: "Darlys really knows her stuff" ... "at the top of her profession and it shows in the caliber of her clients" ... "delivers quality resources that match up well with needs and expectations that are really rigorous."  

 

   She is a licensed Real Estate Broker in four states, holds an Associate's Degree in Marketing and has earned the Accredited Real Estate Manager designation from the Georgia Institute of Real Estate Management. Also she is one of few certified as a Lead-Based Paint Abatement & Removal Trainer in Georgia.

  

   Darlys Walker and her team have been selected to manage the condominium conversion process and day-to-day operations for many of the Southeast's most high-profile condominium communities including luxury high-rises, mid-rises and garden-style homes. Most recently she has been recognized as an expert in 're-versions' of communities from condominiums to leased homes, as well as repositioning projects. A visionary and a tireless perfectionist, Darlys demonstrates hands-on leadership, working individually with each client and staff associate to achieve defined business outcomes and satisfaction.  

  

  For more information about Darlys Walker and Condominium Concepts Management, Inc. please visit www.condominiumconcepts.com.

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