Management Contracts

Joyce

If you send me an email at [email protected], I would be more than happy to forward you my company's agreement, as I wouldn't be doing business on the East Coast, or outside the State of California for that matter.

Attached.

Thank U!

Big topic. Had a Community Manager in northern va. claim a smaller management gives more personalized service. Not sure that sounds like a valid reason to consider one.

Look at some sites that review companies.
Check https://www.caionline.org/Pages/Credentials-Directory.aspx

Talk to other Boards/members/owners in communities. Unfortunately not enough of this happens. Look at other properties and see if they are well maintained. Not sure if you can get how well they are funded which is important coupled with how they look.

Will be interested to see responses on this. Glad you asked.

I agree that contacting board officers in communities that are similar to yours is a good start. See if you and perhaps another director from your HOA can meet them at their HOA for a little visit.

Reading reviews sounds good too. I wouldn't judge any on how well the particular HOA's reserves are funded. The MC has little control on what the Board votes to do in that regard.

Richard makes some really good points, Donna, from the perspective of a property mgr.: Your board news to know its responsibilities beforehand.

It also might help to read your existing contract to see what your board might want added or deleted. The more services you want, the more it'll cost.

We also thought about MC size when we changed companies several years ago. But because our HOA is very complicated, has multiple budgets, etc., we decided we needed a larger firm with corporate departments that handle various tasks.

But I can see that an uncomplicated HOA with few amenities and delinquencies might not even need a full-time MC but might be part of a portfolio where the PM handles, say, 4 or more accounts.

My understanding for our own situation and from our previous PM is that the number varies. Before we had a full-time onsite PM here, we had a portfolio mgr. who had four accounts.

Our previous PM had been a portfolio mgr. where she had five accounts.

A new neighbor whom I just met here had been a portfolio mgr. in a large CA city and had 8 accounts.

A mid rise condo project where I lived downtown San Jose in '03-'04 was at our premises 12 hours a week and, she told me, at two others for about the same per week. She said she had 4 accounts.

So....that's all I know..

Sorry, Donna,; don't think this can help you. All of the above were urban condos which might be very different that, say, suburban detached homes.

For two years I worked for a company that had 60 accounts and 4 managers with no assistants. I had 12, my boss 8 and the other 2 had 20 each.

All depends on the size of the HOA's and what revenue they will generate. It might sound good that the company is in business for 35 years and has 60 accounts, but what kind of service can you really expect.

Joyce

Those are all great attributes for a company to process, but do you have any idea how much that would cost.

To go back to my example, we had 60 accounts and our monthly revenue just for management as $25K a month. That is an average $415 per month per account. The average account was 30 units.

All depends on your business model.

>Like that phrase. Thank you Kerry & Richard!

Thinking it would be good to also add that if the MC discourages or advises against concerns, that state it will be recorded in minutes or in their action items. Should also state that no reimbursement or expenses will be paid to anyone without written documented proof, receipts, work order, invoice without Board majority.

Seeking the best way to prevent fires as opposed to carrying a hose around. Yes, it may be more expensive although they could be on retainer for large Management companies and it may not cost anymore than paying for individual service when the time arises. But if the right folks did the jobs right the first time based on sound advice it can also save money. You know the saying "an ounce of prevention".

We have had contractors time after time do half _ _ _ _ jobs as if this was their weekly pay check. Some of this, well we will not go there. Have no problem letting them know that is over. Repeat repairs have stopped. Plus a general contractor is not an all around good choice for specific work. No favorites in my world. Based on performance.

I would think any management company has a directory of every contractor and source expert. After all the members expect the board to all be source experts in all these fields. Just kidding........

It would be great if every community had a majority or sufficient folks with the right mindset to be more active. Simply not the case in many single, townhouse or condo communities. Then it would be great if every board member would be as responsible as you describe your treasurer. Maybe the culture will change in time.

I have always viewed CA as a progressive state. You have the Davis-Stirling Act which I browse on occasion.

My thought is, if the MC offers advice or advises against an action that is inappropriate etc. it should be recorded in the meeting proceeding. You know why folks have locks on the doors? It is only a deterrent but offers supporting documentation if needed.

Thanks, everyone, for your responses. Very useful. My main concern with the whole process is ending up at a different management company that is no better, possibly worse. I think some people may have unreasonable expectations of a management company. Or, in the case of one resident, lack of self-awareness ... he calls frequently with the same complaints (wants paving business from the HOA) and then is mad that they stop returning his calls.

I'm willing to take competence, even if flawed, over perfection, as long as the work gets done. If I can coax a little more performance out of our company, I'll be happy. But I guess that's a separate question!