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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
The following services would be typical of the services included in a $ 20/door agreement:
1. Monthly Statement of Accounts2. Monthly Reconciliation of Statements3. Monthly Income Statement4. Monthly Budget Comparison YTD5. Monthly General Ledger List6. Monthly Past Due List7. Bi-Monthly Payables List for Board Approval8. Disbursement of Monies to Vendors9. Notice of Past Due Mailing (Postage extra)10. Payment Coupons (Mailing & Copy Expense extra)
11. Electronic Payments and ACH capability (expenses paid by resident)12. Attendance at Quarterly Board Meeting13. Regular Online Meetings and Conference Calls14. Bi-monthly Property Inspections15. Regular Contact with Board Members16. Web Site Creation(Upon Request, Paid for by HOA)17. Toll-Free Information Service18. Contact and Mailing for Citations and Violations19. Dispatching of Service Calls to Contractors
Contact us today in Pasadena, California, for our affordable tenant leasing services.