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Management Agreement Summary

Management Agreement Summary. C. Grundke 3/22/07. Definitions. “Agent” – Professional Community Management. (PCM). “Owner” – Corporation, Board of Directors, Resident Owners??? “Management Agreement” – the 4 contracts between PCM and the 4 LWV Corporations.

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Management Agreement Summary

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  1. Management AgreementSummary C. Grundke 3/22/07

  2. Definitions • “Agent” – Professional Community Management. (PCM). • “Owner” – Corporation, Board of Directors, Resident Owners??? • “Management Agreement” – the 4 contracts between PCM and the 4 LWV Corporations. • “General Manager” – the person provided by PCM to provide the services listed in the Management Agreement. • “Management Fees” – the cost to LWV for the General Manager who is provided by PCM.

  3. Objective • Provide a working agreement between the “Agent” (PCM) and each unique Laguna Woods Village Corporation: • Golden Rain Foundation & Trust • United Laguna Hills Mutual • Third Laguna Hills Mutual • Laguna Woods Mutual No. Fifty & Trust

  4. Purpose? • In very general terms, it defines the scope of the service to be provided by the “General Manager.” • Identify the general Service Levels to be provided to the owners. • Define the cost for the Service.

  5. Managing AgentIf Limited by Manpower

  6. Managing AgentIf Limited by Workload

  7. Some Comments • Who do you think owns the “Property” we call Laguna Woods Village? • The Resident Owners

  8. Comments • Who has control over the “Property?” • Resident Owners • Corporate Members • Bylaws control sale/joint venture via change last year • Boards • GRF • United • Third • Fifty

  9. Comments • Who hires the “General Manager?” • PCM

  10. Comments • Who approves the hiring of the “General Manager?” • GRF, United, Third, Fifty, Resident Owner? • Only GRF by written approval – majority? • United removed this from their Contract. • Third???

  11. Comments • Customer Quality Check! • The “Agent” has sole control. • It is provided, “in accordance with the terms and spirit of this Agreement.” • How do you measure this?

  12. Comments • Who determines the methods by which project is managed? • The “Agent” has sole control. • The “Owner” has no control.

  13. Comments • Can “Agent” hire people who do not work exclusively for “Owner?” • Yes!

  14. Comments • Who pays for employees who are not working exclusively for “Owner?” • The “Agent!”

  15. Comments • What are the Measurements for performance of “Agent”? • There are none – other than the Budget. • The “Agent” defines what is satisfactory.

  16. Comments • Is there a performance evaluation of the “General Manager?” • There MAY be a yearly written evaluation by the 4 Board Presidents. • I have never seen one. • Should the “Owners” see the evaluation?

  17. Summary • The “Owners” will have to rely on the “Boards” to define the measurement of performance by “Agent.” • We have an increasing need for Maintenance and are expending an every increasing time on Development. • The “Agent” decides how his time is spent between “Maintenance” and “Development.”

  18. Conclusion • The Management of the Contract by the Boards is beyond the capability of most Directors. • Requires a Performance Evaluation by a competent outside source to ensure that we are really, “in accordance with the terms and spirit of this Agreement.”

  19. The End

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