Submitted by Caraless_While22 t3_123uqr0 in boston
hellno560 t1_jdwggpw wrote
when is his contract to property manage up? I'd be surprised if he could raise his rates in the middle of a contract term? He may be doing it as cash grab OR, he may be raising his rates to get out of managing a property he has no ties to anymore. Either way elect someone else as trustee and hire a new property manager or if someone volunteers just self manage.
Caraless_While22 OP t1_jdwjauj wrote
Yes, he told us he has no interest managing this property, so it might just be a cash grab. I don't think there was a contract as he hired himself and chose his own rate. He had to keep it low enough to sell the units, but now that they are sold he could care less.
psychicsword t1_jdxg8hd wrote
Tell him to quit then. He can just add easily fire your condo association as a customer. If he doesn't want to do work then his option is to quit rather than to gouge the rate.
headykain t1_jdxzvrz wrote
chapter 183a section 10 says you can fire a property manager with ten days notice
Caraless_While22 OP t1_jdyd2gs wrote
I pulled up chapter 183a since it was listed in the legal docs--there are lots of sections and lots of details to read through.
One question--Property manager is currently sole trustee and there was never a contract for him being the property manager. He is the only one who has access to the bank account so how would we even fire him? I don't think we have that power?!
RockHockey t1_jdydzym wrote
The unit owners pick the trustees
Caraless_While22 OP t1_jdyepkp wrote
Yes, but in the condo docs he is sole trustee until 4 months after last unit sells. It sold last week, so unless he is willing to step down early, we have him for 4 more months!
RockHockey t1_jdyfspj wrote
That is very unusual for you to have no powers for 4 months... Was just looking at my friends and it says 4.1.1: Upon the conveyance of all the Units of the Condominium ... the Unit Owner(s) then of record each shall have the right to appoint one (1) Trustee.
Caraless_While22 OP t1_jdyg3jc wrote
Maybe this is all part of his scam....quick $6k before he vanishes on us.
RockHockey t1_jdyh39n wrote
What does it say about Conflicts of Interest? The one I have says basically that the sole trustee can't contract with himself since there are no other trustees to ratify his action... but IANAL
Section 4.6. Self-Dealing and Trustees' Bonds and Liability. ....
Provided, however, that such contract, transaction or act shall be duly authorized or ratified by 100% of the Trustees who are not so interested and to whom the nature or such interest has been disclosed.
Caraless_While22 OP t1_jdyiksk wrote
If only it was written in plain English, so the average person could understand it. This is an excerpt from the conflict of interest section that seems to me like he can do whatever he wants..
It is understood and permissible for the Initial Board hereunder and any other trustees designated by the Initial Board or who are employed by or affiliated or associated with the Declarant, to contract with the Declarant and any corporation, firm, trust or other organization controlled by or affiliated or associated with the Declarant without fear of being charged with self-dealing.
RockHockey t1_jdyjb2f wrote
Sounds like it, hope he doesn't demand your first born child these first 4 months....
Caraless_While22 OP t1_jdyjio7 wrote
Good thing I don't have a child to give!!
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