Sunday, October 16, 2011

Last October We had a new Management Agreement Signed:

Moved Up the Blog From its original posting date of 10/13/10
The New Concord Management Agreement of Oct 4, 2010

This 10 page document is posted further down this blog and it can be viewed by clicking on this link:  http://nautiluscondosrules.blogspot.com/2010/10/blog-post_13.html

Here are a few items of interest, note we get only 20 hours a week and we are locked into a 3 year contract by the outgoing BOD. This is called getting ‘screwed’ by Norman Knight and Paul Missigman, unfortunately our own BOD Owner member also voted to approve this contract. On pages 7 and 8 there is considerable detail on ‘Termination’ of the contract, it can be done but it won’t be easy. Hopefully the ‘new’ BOD will get rid of them ASAP.

2. TERM. The term of this Agreement shall be for three (3) years. . .

12. FEES AND COSTS.

(a) Manager’s Fee. As a fee for its service under this Agreement, Manager shall be paid $15 per unit per month payable in monthly installments of $2,520.00 ($15.00 per unit x 168 units) in advance on the first day of each month. . .

(b) Separate Cost Items. The Association will pay or reimburse Manager separately for the following services or costs:

(i) $25,000 plus 25% payroll burden for employee(s) who will be “on-site”, which shall include being in the clubhouse at least twenty (20) hours per week and will act as manager(s) for the Association. Any meeting starting after 5:00 p.m. shall have a charge of $75 per hour.

(ii) $15,000 plus 25% payroll burden for employee(s) who will be “on-site”, which shall include being in the clubhouse at least twenty (20) hours per week and who will act as maintenance/janitorial employee(s) for the Association.

15. MANAGEMENT STAFFING. Manager agrees to comply with Section 718.3025(d) of the Condominium Act which related to the minimum staffing required and agrees to have at least one person available a minimum of 20 hours per week for the purpose of management and/or maintenance.