HOA Management
Management Fees R&R Property Management and Leasing Service Basic Management Fee Structures In most cases, the management company receives a cost per resident door with a minimum fee to apply. Not every HOA requires the same set of services and therefore the management fee can range from $ 15.00 per door to $ 20.00 per door based on services need by the HOA. The services and prices are set forth in the management agreement. Prices can be adjusted annually or during the year if more or less services are needed on a regular basis. In addition to a management fee, the R&R (R&R Property Management and Leasing Service) may be compensated for providing services that require out-of-pocket expenses, special supervision, additional meetings above the management contract, mailing of newsletters, and other such services not specifically included in the management agreement. The following management agreement outlines the expectations of the HOA and R&R. Common HOA expectations are:
• Ethical Practices
• Confidentiality Regarding HOA Information
• Qualified, Experienced Personnel
• Detailed Reporting
• Thorough Long-Range Planning
• Sophisticated Financial Accounting |
• Thorough Analysis of the Properties Performance
• Frequent Communication
• Rapid Response Time
• Sufficient Reserves for Future Needs
• Knowledge of Physical Maintenance |
|
