How many HOAs does a typical condo/property manager have in their portfolio?

Started by JdW • 10 replies • 1684 views

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JdW (Texas)
Posts: 40

Posted:

I know this isn't a hard number as there are number of factors such as the unit counts of the HOA and whether they're condos or single family home development, but what do you think is the norm? My guess is 7 to 10 separate HOAs per individual manager, with a mix of some small HOA (20 units) or some that are 150+ units.

JohnC77 (California)
Posts: 562

Posted:

Quote:

Posted By JdW on 11/30/2020 3:17 PM
I know this isn't a hard number as there are number of factors such as the unit counts of the HOA and whether they're condos or single family home development, but what do you think is the norm? My guess is 7 to 10 separate HOAs per individual manager, with a mix of some small HOA (20 units) or some that are 150+ units.

I've worked for companies that had up to 20 per manager.

SheliaH (Indiana)
Posts: 6,964

Posted:

Our last property manager had 15. I think it depends on the property management company. Ours is now part of a national company and 15 may be normal for the staff.

I think you should be more concerned with how well your manager addresses issues in YOUR community. Sometimes having multiple properties can be a problem (especially if yours is a problem child, like ours used to be!) On the other hand, it can be easier for the property manager to put you in touch with other clients who have similar issues and you can talk to that board and pick up ideas on how to address them. Multiple properties may also help you get a discount for certain services.

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

BarbaraT1 (Texas)
Posts: 821

Posted:

When I worked in portfolio I averaged ten properties, ranging in size from 44 units to 570. The fewest I’ve had at one time was 7, the most, 13.

I’ve known managers at other companies with up to 20. Workload is probably the number one factor in people leaving the industry.

FloridaC1 (Florida)
Posts: 27

Posted:

I manage seven communities with a mix of POA, HOA and Condominium for a total of 1,700 units/doors.

KerryL1 (California)
Posts: 14,550

Posted:

Some of our PMs got their start in the business as portfolio managers. Is that a common way to work one's way up in this profession?

JohnC77 (California)
Posts: 562

Posted:

Unfortunately, yes. Although being the General Manager of a high is easier than bein a portfolio manager. A GM has one property, one board, one set of owner and is at the site full time, and is generally paid between $75K-$150K and more

A portfolio manager can have up to 20 properties, 20 boards, 20 sets of owners and paid less than $50K. They could have up to 20 board meetings per months, preparing 20 agendas, 20 board minutes, 20 board packets. And if it rains, you pray you don't have 20 sets of emergencies with roof leaks.

Getting a job as a GM is like, you died and gone to heaven.

KerryL1 (California)
Posts: 14,550

Posted:

Yes, being a portfolio manager sounds very difficult. But I do think it gave our PMs solid background and knowledge, who moved on to their own smallish accounts and then on to our bigger building.

When our buildings first opened, ca, 2000, despite being 200+ unit twin towers, we had only a portfolio manager for about four years. The MC had an employee here, too, who basically was a front desk guy, who arranged for moves, etc. We moved in that 4th year and the off-site PM was a young woman who'd left her career as a flight attendant to get into the PM line of work. I don't know how many accounts she had.

Out smart-a$$ board at the time, fired the MC and hired a start-up "full-service" MC--custodians! Security personnel! So-called "engineers!" Oniste offices for PM & assist! Disaster that lasted less than a year.

Anyway, the young, new portfolio manager we had is now one of the most highly-respected PMs in my urban area.

BarbaraT1 (Texas)
Posts: 821

Posted:

Quote:

Posted By JohnC77 on 12/03/2020 5:11 PM
Unfortunately, yes. Although being the General Manager of a high is easier than bein a portfolio manager. A GM has one property, one board, one set of owner and is at the site full time, and is generally paid between $75K-$150K and more

A portfolio manager can have up to 20 properties, 20 boards, 20 sets of owners and paid less than $50K. They could have up to 20 board meetings per months, preparing 20 agendas, 20 board minutes, 20 board packets. And if it rains, you pray you don't have 20 sets of emergencies with roof leaks.

Getting a job as a GM is like, you died and gone to heaven.

Yes! It’s the dream. I’m onsite now and occasionally recruiters reach out to me about going back to portfolio. It’s all I can do not to laugh. I wouldn’t even take a director level position in portfolio, because you end up managing properties on the side anyway.

The one area where I would say onsite is more challenging is in the level of customer service. Most of the owners in the community I manage know me by sight; they drop by to talk, I’m always “on” in that sense. And board and homeowner alike ask things of me that they wouldn’t if I wasn’t on the property (such as delivering packages, approaching trespassers, running social events). I’m a manager/concierge. And I feel an extra pressure to be on top of maintenance because I’m there all the time, I should spot that broken fence picket or burned out light bulb immediately.

But I know that’s not industry standard. My salary is a line item in the association budget so I feel like I need to be showing every day that I’m worth it.

KerryL1 (California)
Posts: 14,550

Posted:

Our onsite PM (2oo+ condo nits) has the same experiences as you, Barbara. All have had an open door policy and their office is in the lobby of a residential tower, so just a quick elevator ride to visit the PM. I was meeting with the PM the other day, and in marched an elderly owner right up to the GM's desk holding out her phone for the GM to dial Uber for her. No "excuse me, "Hi," nothing.

I do sometimes wonder how the PM gets anything does.

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