Hiring a Financial Services Only Mgmt Company

Started by KeraS • 3 replies • 3641 views

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KeraS (Pennsylvania)
Posts: 1

Posted:

Our HOA has 40 single family homes and we only need a management company to manage the small amount of bills and to collect dues. I am having trouble finding a company to do that. We are located in Southern Chester County in Pennsylvania.

Can anyone recommend a company in my area?

LisaS (Illinois)
Posts: 341

Posted:

You are likely having such a hard time because it simply is not that much of a profit for them . With only 40 homes in your association, it seems like it would not be that much trouble to actually do the work in-house.

Once you have a system, it is very easy. We have 4 members on our Board at present (we are missing #5). I created the database, collect the bills, handle the assesments and collections etc. for 300 homes. The plan was to share the work on this aspect, but it ended up being easier as a one person job. We saved a huge amount of money over hiring a management company and out of 300 homes we only have 1 receivable at present.

Best of Luck!

HarryF (Florida)
Posts: 1

Posted:

Consider contacting a professional realtor company who participates in property management services. Most likely you will find these managers can handle your need.

RogerB (Colorado)
Posts: 5,067

Posted:

I suggest you rethink your needs. Some will provide only financial services, but I strongly recommend getting a full services management company that knows how to keep your HOA out of trouble. Failure to act in good faith and in compliance with the laws can be very costly to an HOA and to the individual members of the Board.

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