The short answer
HOA management contracts commonly run one to three years, often with automatic renewal. The most important clause is termination: look for the right to end the contract on reasonable written notice, such as 30 to 90 days, without cause, and make sure the contract spells out how records and funds are returned.
Other terms to check
- Fee and annual increases
- Services included and extra charges
- Insurance and indemnification
- Ownership of records and data
- Bank account ownership