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Texas state law requires most HOA’s to get a minimum of THREE bids for ALL contracts/agreements that will total $50,000.00 or more. This same requirement applies to renewals as well. The $50,000.00 amount must include all services and costs billed directly. Some HOA Management companies will low ball their monthly rate to attempt to get the amount under $50,000.00, however, state law says that the amount goes by how much you will actually pay all together, not just the monthly rate.