Management Company

Started by DonD9 • 10 replies • 1971 views

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DonD9 (Wisconsin)
Posts: 4

Posted:

We are a 91 lot homeowners association In Wisconsin (private homes vs condo). We are considering hiring a management company to do our bookkeeping, collections, website services, etc. Wondering what is the typical fee structure is and if there are any recommendations in Southeastern Wisconsin

TimB4 (Tennessee)
Posts: 21,059

Posted:

Don,

It may be less expensive to look at hiring an independent contractor for bookkeeping.

Some Banks also provide this for a fee but our Association, 130 lots, thought it was too expensive.

GaryS16 (Texas)
Posts: 2

Posted:

Hey Don,

Email me at [email protected] and I can help you out.

Thanks!

GenoS (Florida)
Posts: 4,276

Posted:

This seems very spammy.

TimB4 (Tennessee)
Posts: 21,059

Posted:

Geno, I agree that it's likely a sales call.

Pushing the envelope but not blatantly advertising.

If concerned, contact the moderators by rolling your mouse over the "help" section and clicking on "contact hoatalk support"

GenoS (Florida)
Posts: 4,276

Posted:

Thanks, Tim. Eh, I'll pass on reporting it. I figure if it's legit the participants will return to clarify things. If not then I'll just consider it a successful test of my Spam Detection Filter

JohnC46 (South Carolina)
Posts: 14,265

Posted:

Don

Consider this a ballpark guestimate but I believe you could hire a "contract" bookkeeper for about $400.00 per month. This would not include website management, past due collections, being the corporation agent, etc.

My guestimate on hiring a Management Company would be about $700.00 per month.

Your mileage may vary.

GenoS (Florida)
Posts: 4,276

Posted:

For what it's worth, we pay $600 a month for bookkeeping only.

KrishnaY (California)
Posts: 2

Posted:

What an eye opener we pay $1000 for book keeping for 143 homes on top of a management fee of 23$/month per home

TimB4 (Tennessee)
Posts: 21,059

Posted:

Wow, we paid $350 per month for bookkeeping services. This also included picking up the mail and sending late notices. 130 lots.

It did not include filing of taxes or creating financial reports beyond who was late in assessments.

GeorgeR8 (Arizona)
Posts: 182

Posted:

We pay $100.80 for accounting for 32 units. They give monthly, quarterly, and annual reports, pay all bills, do our taxes for $200. They also do new owner disclosure but the buyer and seller split that. They do collections which we pay for but that is added to the delinquents bill so we get it back when they pay. They also do our annual report to the corporation commission. Don't remember how much but only like $150 or so. They also have meeting rooms available and orientation classes for new board members at no charge. And some of my people complain about what they charge!

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