HOA Management

Management Fees SUBA MANAGEMENT SOLUTIONS’  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 SMS (Suba Management Solutions) 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 SMS. 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 Accounts
2. Monthly Reconciliation of Statements
3. Monthly Income Statement
4. Monthly Budget Comparison YTD
5. Monthly General Ledger List
6. Monthly Past Due List
7. Bi-Monthly Payables List for Board Approval
8. Disbursement of Monies to Vendors
9. 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 Meeting
13. Regular On Line Meetings and Conference Calls
14. Bi-monthly Property Inspections
15. Regular Contact with Board Members
16. Web Site Creation(Upon Request, Paid for by HOA)
17. Toll-Free Information Service
18. Contact and Mailing for Citations and Violations
19. Dispatching of Service Calls to Contractors

 

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