RogerJ1 (Texas)
Posts: 550
Posts: 550
Posted:
My self managed, 56 lot, ~48 house POA is leaning toward getting a management company. There was no committee formed to explore management companies. Instead one lady is pushing the management company her prior, large HOA used. That company wants $1100 a month and based on its size and reviews, I suspect is a very poor fit.
Description of POA:
Always self managed, 56 lots, ~48 houses and only two true vacant lots as a few homesites are on two lots and each's second lot will not be developed.
Basics:
1) No community property - POA does not own any real assets, just cash and possibly office supplies, laptops;
2) No services;
3) Current POA costs are mainly electricity for some utility owned light polls, legal and small scale grass cutting and landscaping;
4) The grass cutting and landscaping services are on four entrances/monuments that are located on private, non-POA owned property (some of the members' lots);
5) Meetings are held at directors' houses;
6) The last Treasurer told me that in a normal month, accounting takes about 5 to 10 minutes to enter a few transactions into Quickbooks;
7) Tax filing is done via the IRS Form 990-N (e-postcard) which is filling-in/answering about 4 questions on an IRS site;
8) It is located in an incorporated part of Fort Bend County, south of Katy.
I assume this is as basic as a POA can be, and $1100 a month which is $20 per lot, is high. Also, the management company is a fast growing national company that I suspect will push for many non-needed, added-on services after becoming the management company, so that $1100 a month will grow.
I want to present around 3 better matched companies at the upcoming annual meeting. There seems to be many knowledgeable people on this forum who are located in Texas. So I am hoping some people could give me some good leads to explore.
Thank you for any help.
Description of POA:
Always self managed, 56 lots, ~48 houses and only two true vacant lots as a few homesites are on two lots and each's second lot will not be developed.
Basics:
1) No community property - POA does not own any real assets, just cash and possibly office supplies, laptops;
2) No services;
3) Current POA costs are mainly electricity for some utility owned light polls, legal and small scale grass cutting and landscaping;
4) The grass cutting and landscaping services are on four entrances/monuments that are located on private, non-POA owned property (some of the members' lots);
5) Meetings are held at directors' houses;
6) The last Treasurer told me that in a normal month, accounting takes about 5 to 10 minutes to enter a few transactions into Quickbooks;
7) Tax filing is done via the IRS Form 990-N (e-postcard) which is filling-in/answering about 4 questions on an IRS site;
8) It is located in an incorporated part of Fort Bend County, south of Katy.
I assume this is as basic as a POA can be, and $1100 a month which is $20 per lot, is high. Also, the management company is a fast growing national company that I suspect will push for many non-needed, added-on services after becoming the management company, so that $1100 a month will grow.
I want to present around 3 better matched companies at the upcoming annual meeting. There seems to be many knowledgeable people on this forum who are located in Texas. So I am hoping some people could give me some good leads to explore.
Thank you for any help.