In a condo hotel, who selects the management company? Do the unit owners have any right to fire a management company if they are dissatisfied?
The developer chooses the management for the initial term, usually between 10 to 20 years, and usually that management agreement is tied in with his choice of franchise. After the initial term, the development is turned over to the condo hotel association which consists of the individual condo hotel unit owners. The owners vote on whether to keep the existing management firm and franchise or whether to make a change.
The above question was submitted via e-mail by a visitor to www.condohotelcenter.com. The answer was prepared by Joel Greene, a licensed real estate broker with Condo Hotel Center which specializes in the sale of condo hotel units.