In addition to management of rental properties, we can also help your neighborhood or condo complex with management of your HOA or COA. Management of a neighborhood association can be complicated, including accounting, tax filings, ongoing maintenance and repairs for common areas, and enforcing neighborhood covenants.
While many HOAs and COAs manage their association themselves, a growing number are finding that it is simply not effective to do so, especially for larger neighborhoods. Volunteers can only do so much, especially since they usually have full-time jobs, children’s events to attend, etc. That’s where a professional management company like us can help you to ease the burden.
While you will still have your own local officers elected by the neighborhood, the day-to-day administration is handled by the management company. You don’t have to worry about driving through the neighborhood looking for violations, you don’t have to send out warning letters and make collection efforts on fines, you don’t have to manage the books, etc. All of that is handled by us. And when it comes time for a board meeting, we can show up with full reports on everything to present to the attendees.
Costs of full management vary widely depending on the size of the neighborhood and the work involved. Generally, the cost is done on a “per door” basis, meaning we charge a set monthly fee based on the number of houses in the association. That fee can range from $8-$15 per door. Large neighborhoods generally get a lower price, because of the economies of scale. But neighborhoods with more amenities (pools, playgrounds, etc.) require more work to oversee, so that can increase the cost.
To get more information on HOA or COA management, please give us a call or send us an email.