Contract Oversight
Management Contract: Key Terms to Review
A useful comparison puts each firm’s full cost and service commitments in the same columns.
Scope and total cost
Start with what each proposal includes, which services carry extra charges, how often fees can rise, and what any startup or transition would cost. Compare proposals against the cost of the current agreement in the same years.
Service and accountability
Look for concrete staffing commitments, resident response times, financial reporting, and a clear escalation process. A promise is easier to evaluate when the agreement says who is responsible and when the work is due.
Term, renewal, and transition
Read the signed agreement and any addenda together. Check how long the agreement runs, how renewal works, what notice each party must give, and how records and systems would transfer at the end of the agreement.