A contract typically comes with an expiration date; this is true for the contractual relationship between the syndicate of co-owners and its condo manager. The agreement can last for years or end abruptly; the flexibility and the adaptability of this agreement efficiently addresses the evolving needs and the changes of both parties.
Moreover, loyalty to a manager varies from one co-ownership (condominium) to another; that being said, various reasons can explain the termination of the contractual relationship between the syndicate and the manager: the expiry of the term, the failure of one party to fulfill its obligations, the death of the manager or the opening for him of a protection plan if it is a contractual relationship established with a natural person, his bankruptcy, the unilateral decision of one of the two parties to put an end to it, the consensual decision of both parties to terminate it as well as the termination of the co-ownership.
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