PROPERTY-CONDOMINIUM MANAGERS

Amends the Condominium Property Act. Provides that if a community association enters into a written contract with a party to provide maintenance or management services for the community association, the contract is enforceable only if the contract meets certain requirements. Provides that the community association is authorized to procure services from another party and is entitled to collect any fees or charges paid for service performed by another party from the party contracting to provide maintenance or management services if the party fails to provide contracted maintenance or management services. Excludes contracts for services or property made available for the convenience of unit owners, including, but not limited to, coin-operated laundry, food, soft drink, or telephone vendors, cable television or retail store operators, businesses, restaurants, or similar vendors. Provides that a party contracting to provide maintenance or management services to a community association may not purchase a unit at a foreclosure sale resulting from the community association's foreclosure of a community association lien for unpaid assessments or take a deed in lieu of foreclosure. Provides that if 50% or more of the units in the condominium are owned by a party contracting to provide maintenance or management services to a community association, or by an officer or board member of such a party, the contract with the party providing maintenance or management services may be canceled by a majority vote of the unit owners other than the contracting party, or an officer or board member of such a party.