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    Julie12001's Avatar
    Julie12001 Posts: 2, Reputation: 1
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    #1

    Mar 12, 2009, 05:21 PM
    Is it necessary to be bonded?
    I have been asked to be the property manager by our homeowner's association.
    Do not know as present all the details but know I will be responsible for hiring a
    Landscaper, maintaining any repairs to exterior etc. They said I would need to
    Be bonded. By law, do I need be bonded.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Mar 12, 2009, 05:43 PM

    Law, no laws, it would be the Homeowners association rules, if their rules say you must be, then you must be. I would expect the HOA to pay for the bonding cost.

    It would protect them for you handling the HOA money.
    Merely contact several insurance companies, unless the HOA has one they prefer you to use
    Julie12001's Avatar
    Julie12001 Posts: 2, Reputation: 1
    New Member
    		  
    #3

    Mar 12, 2009, 06:07 PM
    Thank you for your answer however I will be submitting any invoice to the treasurer of the homeowner's association for payment. I will not be handling the money.
    I feel for my own protection I would need E&O insurance.
    What are your thoughts?
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