CACM’s Sample Management Retainer is similar to what is used by other professionals (i.e., attorneys, CPAs, consultants). It provides for a base management fee with a defined number of man hours per month for the management firm to assist the client association. It also provides for an hourly fee for every hour spent in excess of the defined monthly hours. This type of agreement allows for the ultimate customization of services for community associations by utilizing an a la carte menu of services.
Community associations seeking new management should use the Sample Management Retainer to fully define what services they require and to ensure consistency in the bidding process.
Management companies should use the Sample Management Retainer to tailor their services to the needs of their clients and prospective clients.