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Management Company or not?

Started by MindyR • 9 replies • 1198 views

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MindyR (North Carolina)
Posts: 47
Posted:
I live in a small development of 42 homes. I was wondering if anyone had any advice of the use of a management company. The development is going on 5 years old. And those who were interested on being a member of the board are pretty fatigued. I have been the Sec for 2 years. Before I started there wasn't even on meeting with typed minutes! I have done a tremedous amount of work, but I need to come off. My personal schedule, school , work, kids....I just need to let it go. I know there are several others that are ready to come off too. I'm just afraid the interest is not there and for those who are, I personally would not vote for them, due to I would not want them to represent the neighborhood.

I'm just afraid things will be pushed to the side and I feel like I would be completely supported if we decided to move forward with a management company.

Any advice? Anyone have an idea of the fees involved with a management company?

Thanks!
SusanW1 (Michigan)
Posts: 5,202
Posted:
When I read about boards like yours, I think:

1)the board is meeting too often
2)the board is trying to do everything instead of making sure it gets done (delegate)
3) the homeowners are not being involved enough at the committee level, so the board be infussed with new blood once in a while.

SusanW1 (Michigan)
Posts: 5,202
Posted:
so the board can be infused . .

(new laptop drives me crazy)
RobertR1 (South Carolina)
Posts: 5,164
Posted:
Susan,
Seems right to me.

To answer the original question. With 45 homes, unless circumsatnaces are unusual, you should be able to self manage.
I understand what you are saying about being burned out. First try a noticed informal meeting of all owners. I mean get the people there any way you can. Have door proses, Belly dancers and the chippendales (sic). Do it informally and explain face to face you need ne blood (Infused). A couple of folks is all you need and tell them you will show them how to do the job.
Really you have no choice, you can't walk away, at least in a lot of associations. Last person holding the bag goes to court when push comes to shove. See if your documents says you can resign. Bet there is nothing there that says you can just walk away and abandon the association. If you are last standing, who are you going to resign to?
No, you need new life and a new direction. Even so far as to say you must have new life. You can legally get a lawyer and notice all the residents the association will have to go before a judge and petition for relieve or whatever, lawyer can tell you, but I bet that is going to cost you and every one else in the association. A well run controlled association can probably dissolve an association under state law with legal council, a fragmented association is going to cost you dearly. Judge will probably appoint a receiver or something and he/she will start a process and guess who pays for all that?
GloriaM (North Carolina)
Posts: 829
Posted:
Mindy:

We are located in Mooresvile and provide full and just accounting services; or consulting. If you would like to speak with me email me or call. Hope to speak with you soon.
RobertR1 (South Carolina)
Posts: 5,164
Posted:
Mindy,
I don't know of anyone I would have more faith in than Dr. Martinez.
She posts here (not often enough) enough that I value her advise and council. You are indeed fortunate to have her attention. Don't miss this opportunity to turn your association around.
EllenS1 (Florida)
Posts: 1,148
Posted:
Mindy,

I would definitely recommend hiring a management company. Many volunteers are gung ho in the beginning but are faced with apathy and owners wanting the board to do everything to their satisfaction and burn out. I served several years on our board and am in the burned out category. In addition many volunteers are not qualified to serve on the board but are rounded up simply because nobody wants the "job". But many management companies are not really qualified either even tho they are licenses by the state so I suggest you interview several, see what hoas they manage and speak with the owners to see if they are satisfied with their company.

As to cost, it all depends on your location, etc, etc. If you do hire a management company look over the contract very carefully before it is signed to make certain you have a clause that let's you get out of the contract if you are not happy with their service.
EllenS1 (Florida)
Posts: 1,148
Posted:
Robert,

Sorry, but I think you are making a mountain out of a molehill. I'm certain most docs say a board member can resign. Hiring a management company doesn't preclude having a board. In fact, there will probably be more owners willing to be on the board if they didn't have to do all the heavy lifting. A receivership only comes into play if there is no board and then the owners can be notified. In addition, it is NOT necessary to hire a lawyer to let owners know about this. Our hoa had no volunteers for the board and I sent emails, etc to let owners know we may possibly have to get a receiver and increase our assessments to pay for the same. Guess what? at our annual meeting we ended up with 5 new board members.
RobertR1 (South Carolina)
Posts: 5,164
Posted:
Ellen,
I haven't got a clue of what you are referring to or why you would mention it, if true.

But no matter, I really don't want to know.
MicheleD (Kentucky)
Posts: 4,491
Posted:
Quote:
Posted By RobertR1 on 04/07/2009 4:24 PM
Mindy,
I don't know of anyone I would have more faith in than Dr. Martinez.
She posts here (not often enough) enough that I value her advise and council. You are indeed fortunate to have her attention. Don't miss this opportunity to turn your association around.

. . . and I would recommend her book.

I use it and have passed it along to several of my fellow board members.

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