by Kristan on April 3rd, 2007

Kristan

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What should a management company charge for the part time management of a condo association

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  • by anon on April 3rd, 2007

    anon

    You'd want to define (in writing, of course) what "part time" means because, frankly, there is no 'part time' with tenants and building emergencies.

    You'll want to find out what other mgmnt co's in your area are charging for a like number of units -- it's usually a yearly bid/fee/payment.

    Some smaller mgmnt cos in smaller resort area (Tahoe, Palm Springs, La Jolla, etc.) do charge by the year, based on a a formula created by taking 10% of annual HOA dues collected; PLUS a % of what fees are paid out to the associations vendors (gardener, maintenance, etc.) Something like 10% of that number, presuming the mngmt hires/supers/bills/pays and fires those vendors.

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