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Can a property management firm take over our condo association board?

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It is getting more difficult to get volunteers for filling in the 5 seats as a trustee. We have 4 buildings, 30 units per building, a 55+ community. What would it cost us to hire a firm to take over as trustees?

Unfortunately management will not take over as the Trustees or Directors of the Association.  Management works with the Board of Directors to make their job easier and less burdensome. 

The directors will still be the decision makers and responsible parties to insure that the Condo Association or HOA is run properly.  Property or Association Management should do the leg work and provide information to the Board for decisions.  Once a decision is made, the property manager will implement and carry out the decision.  

Fees are typically based on a perceived amount of work that will be necessary on the part of the management company to run the condo association.  In many cases management fees are referred to on a per door basis.  You will find that prices can fluctuate greatly between many companies based upon their experience and level of services provided.  Condo association and HOA boards should always interview several companies. 

The best way to find companies is to speak with friends in other condo associations that are happy with their current management.  Your current attorney may have suggestions for you as well.  Since the question was how much it should cost, a range of pricing for your association would be between $25.00 per unit and $35.00 per unit; however this may change based upon conversations with management regarding your expectations.

Scott Wolf

Comments

This is becoming a common question, desire and a lament. It is my opinion that this is driven by multiple factors, including but not limited to;
- Expectations
Community members have expectations and a desire for a certain lifestyle. The fact is that many communities are managing for unknown expectations or the expectations of a few, usually a combination of both.
-Value
It is difficult to place a value on the contribution of volunteer board members and trustees, as well as the other valuable volunteers of the community. As community members demand more for less, the pool of those willing to give their valuable time and effort shrinks.
-Volunteerism
Volunteerism in our society seems to have risen, but so has opportunities for volunteerism. Churches, synagogues, temples, faith based organizations, health groups, hospitals, veterans groups, charity groups, animal groups, Red Cross, Scouts, Lions Clubs, Kiwana's, civic organizations - the opportunities for our time are endless and this list could reach voluminous proportions. We also have an aging baby boomer population that is taking care of their aging parents and it appears that this poulation is increasingly more mobile. This shrinks the pool of volunteers.
-Reasonableness
This is something that I believe is not looked at enough in the industry. I can't give any hard date, but I can give plenty of anectdotal evidence that many community members appear to be less reasonable, though I have no hard explanation why. I have been to community meetings where a person will stand up and demand that fees remain the same, and in the next breath will have a laundry list of items that they think the Association should be performing. I have sat in board meetings where members are distraught over violation issues and want it immediately resolved; often which is impratical or impossible. Over half the time, it is not even an issue the Association could or should be involved in.
My opinion is that many boards don't have a Standard Operating Procedure - in the military referred to as an SOP. Most boards could probably meet quarterly. Given proper direction and guidelines, a good management agent should be able to keep your community running smoothly. The Board should be planning the whole next year in advance the end of the previous year. Contracts and services should be bid out on regular intervals and the board does not need to be involved in the day to day or the minutea. Many boards make a mistake of getting heavily invested in the smaller items that they lose sight of the bigger picture and get overwhelmed. Other community members see that and say "Not me!"
Another key part is effective communication with your community. Many communities "nickle and dime" for savings in mailings and newsletters, websites and other effective communication tools that help inform the community and shape expectations.
If a board met quarterly, then they could meet as needed on violation issues and maintenance emergencies. Cutting down on the amount of time needed and having a system that makes the tasks simpler will draw in more volunteers. With education, commuication and managing expectations as well as the community, you can create success where you see problems.
Posted @ Tuesday, April 22, 2008 11:38 AM by Joe Schuirmann
NO company can take over your community, you may go into receivership which is expensive, very expensive.
If you are se3eking a cost effective alternative contact us we can help put life back into your community and reduce the time the board must take to spend on Board activities.
Posted @ Monday, May 05, 2008 8:22 PM by Condo Specialties
The cost for basic services should be between 10 to 15 dollars per door
A price of 25 to 35 dollars including
accounting is a rip off.
That is why we started condo specialties to help condo associations and stop the rip off
Posted @ Monday, May 05, 2008 8:26 PM by Condo Specialties
Dear Board
Please provide your contact info and perhaps we can assist you in your difficulties.
thank you
Posted @ Wednesday, June 04, 2008 3:36 PM by Paula
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