Code of Professional Ethics
Professional Community Association Manager
A. Applicability of Rules
The code of professional ethics for a Professional Community Association Manager (PCAM) derives its authority from the Community Associations Institute (CAI). CAI may after a hearing admonish, suspend or expel a PCAM who is found guilty of infringing any of the provisions of the code of professional ethics.
The code of professional ethics which follows applies to the individual performing services in the practice of management of community associations including complete property management or financial services and independent consulting engagements.
A PCAM engaged in the practice of management of community associations must observe all the rules of conduct incorporated in this code of professional ethics. A PCAM shall not permit anyone under his supervision to carry out on his behalf, either with or without compensation, anything which if carried out by the PCAM would place him in violation of the rules of conduct under the code of professional ethics.
1. General Standards:
A PCAM shall comply with the following general standards as interpreted by CAI and must justify any departures therefrom.
Professional competence - A PCAM shall undertake only those engagements which he can reasonably expect to perform with professional competence.
Due Professional Care - A PCAM shall exercise due professional care in the performance of his duties
Planning and Supervision - A PCAM shall adequately plan and supervise an engagement.
2. Integrity and Objectivity:
A PCAM may not knowingly misrepresent facts in order to benefit himself, his company or any affiliated company from which he may benefit. All representations made to a community association must be made with the best interests of that community in mind.
3. Technical Standards:
A PCAM shall comply with all standards that may be currently in force or may from time to time be promulgated by CAI.
4. Professional Courtesy:
A PCAM shall exhibit professional courtesy to professional managers of all community associations and such professioanl courtesy shall include among other things:
Non-interference with contractual relationships between professional managers and their clients.
Notice to professional managers of community associations of contacts with professionals existing clients to the extent that such notice is useful in order to ascertain the nature of any contractual relationship between a client and a community association management professional, and the extent that such notice does not interfere with the PCAM's ability to compete fully and effectively.
5. Conflict of Interest:
No PCAM or anyone under his supervision may use his position to enhance his own financial status through acquisition of property or recommendation of vendors, suppliers or contractors that may pay a gratuity to the PCAM or anyone under his supervision. Any dealings with related parties must be disclosed to the client.
6. Use of Client Funds:
No PCAM may misappropriate any funds or property being held for a client under a fiduciary relationship.
7. Limitations of Practice:
A PCAM who is also engaged in the practice of another profession shall not perform such other services for a client while under contract with that client to perform management services it the performance of such services is likely to result in a conflict of interest.
8. The term of Professional Community Association Manager (PCAM) and the logo PCAM must be used under the rules and conditions of Community Associations Institute.
9. CAI may waive any individual provision of thei code of professional ethics.
10. Disciplinary Action:
Any PCAM who violates any of the above rules may be subject to disciplinary action which may include possible suspension or expulsion from the PCAM program.