need HOA Mgt Company referrals for No. Virginia

Started by JohnP8 • 16 replies • 2022 views

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JohnP8 (Virginia)
Posts: 3

Posted:

We have been put in a bad spot by our current HOA Mgt. company. First, we discovered that the Pres. of the company embezzled upwards of $2M from many of the local HOA's. While this news was breaking we were told that they had been bought out. Now, the new company sent us a canned letter stating that they are raining our mgt. fees by about 100%, effective in 45 days!!!

We have had as much as we can take and need to find a reputable, honest Mgt company that can service our small community in Ashburn, VA. Please, if anyone has any referrals we would greatly appreciate it.

Thanks

JP

MikeS1
Posts: 668

Posted:

I would be interested as well.

JM2 (Oregon)
Posts: 439

Posted:

Hi:

Here's the link for CAI state and local chapters; go to your local chapter's website and find the service providers page, you should find some leads.

You have 45 days to find a new management company. Check your current contract to see what the termination clause is, and follow it to the letter.

JPM

DavidW5 (North Carolina)
Posts: 565

Posted:

I can only tell you that, in my opinion, *********** as the management agent for our N. Virginia HOA has been terrible. They charge us a high price for their services but their financial management, budgeting and accounting (again, in my opinion) has bordered on a violation of their feduciary duty to the association. Do not, under any circumstances, hire them.

Dave

AngelaH1 (Virginia)
Posts: 3

Posted:

After 14 years we just went through the search a little over a year ago, using a pretty detailed RFP to outline our expectations of the services we wanted from the Management Co. We are a small community without lots of amenities so many of the larger companies in No. Virginia simply turned us down as being "not worth their time." We then settled on a smaller company and are fairly satisfied.
In my experience there are always a few "bumps" in the relationship between Management Co.'s and the volunteers on the Board or Committees, but I think it is telling how the company reacts to those bumps. They either get overly defensive, deny that there is any need to act at all, blame anyone else for the issue or not acting(like the Board), or approach the issue with recommended solutions. So far we've been able to collaborate on addressing issues. The bumps have come up in terms of consistency in advice, communication, and follow through. Written clear expectations have been the greatest help - we simply didn't have them with our last company and they basically collected the check and did very little else for us. Our new company is Commonwealth Management Services, inc. (www.cmsinc.org)

MikeS1
Posts: 668

Posted:

We would love to see your RFP. Any possibility of this?

JohnP8 (Virginia)
Posts: 3

Posted:

Mike,
Are you associated wih a Mgt company that is interested in our business? If so, please provide me with the name of the firm, contact information.... and we cna go from there.

MikeS1
Posts: 668

Posted:

Angela - We would love to see your RFP. Any possibility of this?

MikeS1
Posts: 668

Posted:

No, afraid not. Just looking for similar template for this process if and when we go hunting.

EkremS (Virginia)
Posts: 7

Posted:

We too were with the company who's CFO stole $2 million from various HOAs and we fired them within 45 days of learning about this. We switched companies and are now with Armstrong Management. So far they seem ok. We are now mainly self managed and use them only for financials. Make sure you find a company that is CAI certified.

DaneC (California)
Posts: 210

Posted:

http://www.washingtonpost.com/wp-dyn/content/article/2007/07/19/AR2007071902298.html

At least $2 million was stolen from Northern Virginia condominium and homeowner associations, probably by a top executive of the Fairfax City company hired to manage their finances, a forensic accountant told state regulators at a hearing Thursday.

JudithC (Virginia)
Posts: 253

Posted:

I believe the management company that was buying out the one that allegedly embezzled dropped out of the deal. That is what their website says at least.

It is difficult if you are small. We have 195 townhomes and I remember being at a seminar talking to someone from one of the larger firms around here. She said that we were just on the cusp of needing management and they were looking into having a division that handles the smaller ones. I don't think they did it, though. I believe one large one around here does have such a division. The only people I have heard that love their management companies in this area are those that have found some jewel who is doing it outside of the normal companies. Small guys generally get the "managers in training". By the time they get good, they get a bigger contract. We are currently self-managed.

We had hired that firm to handle ARC only. That didn't work out though and after a year we got rid of them. For that function they were pretty inexpensive, so it could be that replacement firms would cost a lot more if the ARC function was any indicator.

Most importantly, have you people who were involved with them gotten a complete audit yet? I was amazed at the Post article that only about 50% of their clients had been audited so it is believed that even the $2 Million number might be low.

JohnP8 (Virginia)
Posts: 3

Posted:

Yes, we have found it a bit difficult to find a company that wants our business. We are only 95 SFH but we have rather large lots which can leAD TO LOTS OF arb ISSUES.
I have one company that I am meeting with and am hopeful that we can work something out.
As for the audits, we are still waiting for our '06. Yes, the buy-out has fallen through and Koger is now going by Tri-State Mgt. or something. It will be interesting to see how the whole investigation unfolds in the coming months.

WandaM (California)
Posts: 19

Posted:

Can you provide an RFP? We're in the same boat 21 building 192 units HOA fees are ridiculously expensive. The only service we receive is the Security Guard who comes in at 8:00pm he departs within 10 minutes froma rrival and the Gardener a crew of 2 men work the entire landscape for this large property and to top it off the gardeners is also the cleaning crew so you can imagine what our vehicles look like after a nice wax job. We are looking to replace our management company in California. Does anyone know of a good company out here? Thank you

DD3 (Virginia)
Posts: 3

Posted:

I know the company that you are referring to , I am a professional manager. My company acquired a community that had that same management company what a mess!! Please keep this in mind when looking for a management company for your small community,larger management companies do not want small communities, they are not profitable , so they charge outrageous fees for everything.
the company that i work for specializes in small communities.
we meet their needs at 98% satisfaction. I wish you well in your search.

DD3 (Virginia)
Posts: 3

Posted:

GlenL (Ohio)
Posts: 5,491

Posted:

DD3, did you happen to notice that the tread you responded to was almost three years old?

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