Unit cost's for Mgmt Co's

Currently I have been looking at other communities budgets to compair to ours. I believe we are "top heavy" in Mgmt costs, along with legal and other Maintenance costs. I found it was easier to compair the "unit costs" as each HOA is different ~ different amount of homes etc. I am compairing HOA's with single family homes only.

I was wondering if anyone out there has the "unit cost" on mangement, including extras.

This information would be of great help to me.

Thank You
NancyM2

By "unit cost" I mean how much per owner, per month.

Roger ~ I understand the costs are less the more unit's that are involved. It only makes sense that the more homes you have, it should be more cost effective. The services I feel are "normal" are the billing, record keeping, board meetings, and ACC meetings. Also twice a month drive through's We have a project Manager that takes of us, along with several other HOA's as well.

We are a community of 575 single family homes.

NancyM2

I was just looking for a "ball park" figure.

Try getting bids for sub contracting all this work out and compare the cost.

Nancy,
For the services you listed "billing, record keeping, board meetings, and ACC meetings. Also twice a month drive through's"
plus:
1) Other accounting duties: A/R, A/P, banking, financial reports, tax prep and yearly corporation filing;
2) Enforcement of violations of restrictions - courtesy and violation notices and co-ordination with ACC;
3) Prepare annual budgets and long range reserve plans; and
4) Maintain the official records of the Corporation.

For 575 single family homes, with no amenities, no bids nor monitoring of contractors, and attend 12 Board meetings and one annual meeting per year, our ball park figure in Colorado is $1200 to $1500/month (about $2 to $3/mo). However, keep in mind we charge less than other MCs and will only provide prompt, personalized, outstanding services

My HOA is 558 SF homes and I feel we are paying too much for basic service, similar to the one outlined by Roger. We have No amenities and PM does not monitor contractors/vendors. No more than 6 checks per month. We are paying $4.50 p. month per home, $2,511 per month, and they expect an increase next year.

John, it does cost a lot more per unit for a small single family HOA. We have one with 22 homes and the charge is $15/home. But, before we were hired they ended up in court and it cost a total of $15,000. For self management I strongly recommend getting educated on the laws and proper procedures for dealing with homeowner problems. Also, burnout will occur and continuity will be a problem.

Susana M I have 1 question for you? Are you a member of a Board of Directors, or a treasurer, or do you own a management company or ran one yet?

We pay in Florida $9.77 dollars per unit per month,

with web site charges of .37 cents a month and

we pay extra for xerox copies, office supplies and if we want changes to the tops program for our community of 307 homes we pay extra for that. We use a private contractor for billing all members there monthly statements and mailings of our quaterky news letters that goes in the same envelope with the statements newsletters 2 sided cost us $85 for printing and mailng..........Do your budget per member after you do your normal way it stops the complaints
IMHO

Thank you