Follow three promises into the written agreement
“We handle that” is a useful starting answer, but it is not a complete description of a purchased service. Before approving a management agreement, select three important statements from the proposal discussion and trace each into the contract and incorporated schedules. The exercise below uses fictional answers to show how a board can identify gaps. It does not interpret an actual agreement or supply legal advice.
Promise one: “We inspect the property regularly”
Find the written scope that describes site visits. Does it identify the intended frequency or trigger, the areas covered, and the deliverable? Ask whether the visit produces a dated report, photographs where appropriate, an open-item list, or some other agreed output. Distinguish a general observational visit from a specialist inspection that requires different expertise.
Suppose the proposal discussion mentions monthly visits, but the agreement says only “periodic inspections.” Record that mismatch as unresolved. Request a written description that reflects the intended service, including access dependencies and follow-up responsibilities. Do not assume that retaining interview notes makes the more specific statement part of the agreement.
Promise two: “Meeting support is included”
Move from the scope clause to the fee schedule. Identify which meetings are included and whether preparation, attendance, travel, and follow-up are treated together or separately. Ask how additional meetings, longer sessions, or special projects would be authorized and charged. The aim is to identify triggers and boundaries, not merely obtain reassurance about a base fee.
In a fictional review, the scope includes board meeting attendance while a separate schedule lists additional meeting charges without defining the included allowance. Ask the provider to reconcile the two documents. Preserve the resulting explanation and ensure the final agreement reflects the resolved arrangement. Keep third-party expenses separate from management fees when comparing the complete expected cost.
Promise three: “You can get your records when you leave”
Trace the answer through termination, transition assistance, records delivery, and any applicable fee provisions. Ask which records are transferred, in what usable format, to whom, and through what process. Include open requests and outstanding vendor matters, not just a file archive. Identify what support ends immediately and what handover work remains within the agreed scope.
Have appropriate counsel review consequential exit terms and unresolved conflicts. An operational checklist should not be used to infer a right to terminate, override notice provisions, or decide a disputed ownership question. The board needs a clear understanding before execution, not a plan to resolve ambiguity during a rushed transition.
Keep an unresolved-answer log
- Scope entry: verbal statement; agreement section; mismatch; requested clarification; responsible responder; status.
- Fee entry: included activity; possible charge trigger; schedule reference; missing definition; status.
- Exit entry: promised deliverable; transition clause; format and recipient; professional-review question; status.
Close an entry only when the answer is sufficiently documented for the board's decision and any necessary agreement change is reflected in the final version. Save that version with its incorporated schedules. A resolved conversation and a resolved contract are related, but they are not automatically the same thing.