Property Management questions

Started by TV • 6 replies • 1169 views

💬 Join us to post & get advice from 50,000 HOA & Condo leaders.

⚡ Takes 30 seconds

Already a member? Log in

TV (Washington)
Posts: 122

Posted:

Hello

are there any success stories about property management companies?

Most seem to be second rate, and only concerned with making money.

success with a Pm seems to be strictly random

is it better to have a full managed service by an outside Pm company, or have a on site PM to manage the association

RichardP13 (California)
Posts: 3,868

Posted:

TV

How large is you HOA. Detached Homes or Condos?

MelissaP1 (Alabama)
Posts: 13,836

Posted:

It's best that your HOA get it together and realize the relationship between the PM and the HOA. The PM is a hired sub-contractor to the HOA. So your right when you say "They are only in it for the money". It's because they are paid to do what they do. However, they can only do what they do per contractual agreement between the HOA/PM.

Sometimes this line gets a bit blurred. HOA boards don't know how or don't care to run their HOA. So they hire out a Management company to do it. That PM may just then take things over. Not knowing or understanding the relationship lets this happen.

If you don't like the PM's you have, it might go deeper than them. It's time for the HOA to learn that it is in charge. The PM is there as support.

Former HOA President

KerryL1 (California)
Posts: 14,550

Posted:

Your last question, TV, has a lot to do with the size, complexity & budget of your HOA. So, tell us more.

TV (Washington)
Posts: 122

Posted:

214 units in 9 bldgs

KerryL1 (California)
Posts: 14,550

Posted:

OK, you've told the size. And it suggests a PM would be a good thing. But that alone, doesn't suggest whether you should have an onsite PM.

How about complexity, i.e., are they elevator buildings? Do they have sophistical mechanical/plumbing equipment? Do you have many amenities? What are they?

What is the size of your budget?

Are you on the board?

TV (Washington)
Posts: 122

Posted:

simple former apartment complex, with no elevators
3 floors and stairs only

nothing complicated

amenities is (1) pool

budget 275K per year approx

🎯 You've read this entire discussion

Join the conversation with 50,000 HOA & Condo Leaders:

✓ Ask follow-up questions
✓ Share your experience
✓ Get expert advice
✓ Access 350,000 discussions

Create Free Account →

⚡ Takes 30 seconds

Already a member? Log in here