Friday, July 19, 2013

Air Your Dirty Laundry

Keep a Close Eye On Your Laundry Contracts

By: Jess Kaminski

Laundry contracts should be reviewed closely before signing on the dotted line.  Contracts may contain a Right of First Refusal clause, similar to some condominium documents.  In the event an Association is unhappy with their current vendor's service and obtains bids from potential replacement vendors, this gives the contracted vendor the right to meet the best bid and lock in for another term.  This can be quite the stain for some Associations, as laundry contracts can have terms of more than five years.