Contracting Property Management companies
Posted: 13 Jan 2011 15:55
Hi Louise,
I am a committee member of a complex and we have recently entered negotiations with property management companies, one of which we may contract to provide the necessary property management services. We need advice on the following:-
I assume we need to ensure the legitimacy of the signatory for the contract.i.e. that the person signing has the authority to enter into the agreement on behalf of the company and also that they are indeed who they say they are before we endorse that monies are paid into their account (we haven't physically met them yet). What would you advise we need, in order to ensure that we have a legitimate signature? …one which would enable us to take legal action against the company and/or person should we ever need to? We have begun negotiations without any help from a solicitor because there are no complex funds to pay for these services (previous managing agent stopped services and left us in the lurch). So any payments would have to come out of each Directors’ own pocket!....I guess?
We have already asked for personal ID and address verification from the individuals concerned (e.g. passport and household utility bills). This is to allow us to ID the person should there be any issue. I also think issues would be less likely if we had this information on the company director (in the past, as apartment owners we have been victims of tenants and rental agents disappearing and then not being able to pursue them). As yet this personal information has not been forthcoming, so we assume a reluctance from the Company Directors to provide such personal details. Are we perfectly entitled to ask for this? And therefore should we oblige them to provide it if they wish to proceed?
I am a committee member of a complex and we have recently entered negotiations with property management companies, one of which we may contract to provide the necessary property management services. We need advice on the following:-
I assume we need to ensure the legitimacy of the signatory for the contract.i.e. that the person signing has the authority to enter into the agreement on behalf of the company and also that they are indeed who they say they are before we endorse that monies are paid into their account (we haven't physically met them yet). What would you advise we need, in order to ensure that we have a legitimate signature? …one which would enable us to take legal action against the company and/or person should we ever need to? We have begun negotiations without any help from a solicitor because there are no complex funds to pay for these services (previous managing agent stopped services and left us in the lurch). So any payments would have to come out of each Directors’ own pocket!....I guess?
We have already asked for personal ID and address verification from the individuals concerned (e.g. passport and household utility bills). This is to allow us to ID the person should there be any issue. I also think issues would be less likely if we had this information on the company director (in the past, as apartment owners we have been victims of tenants and rental agents disappearing and then not being able to pursue them). As yet this personal information has not been forthcoming, so we assume a reluctance from the Company Directors to provide such personal details. Are we perfectly entitled to ask for this? And therefore should we oblige them to provide it if they wish to proceed?