ITS THE HOA'S MONEY

We have seen what happens first hand when properties engage in the services of a Management Company that offer a "wide range" of services including but not limited to an in-house maintenance division, internal accounting and Legal Representation

Q:  If an Association has work performed by a contracting company also owned and operated by the management firm how much accountability is there really?  Will your manager walk down the hall and fire their co-worker?  A: The answer is a resounding NO!  Will any promised savings be really worth it at the end of the day? NO!

Q:  Part of managing HOA's is tracking of funds, making deposits, sending statements and late notices, applying late fees and paying bills but who should hold the power when it comes to the Associations Operating, Reserve, Money Market and CD accounts?

A:  The answer seems simple, of course the Board should have this power, many would be surprised as to how much control some management firms have over an HOA's funds.  We believe the Board should have the First and Final say in how an association's funds are handled and especially where the funds are located.  We put the power back in the hands of the Board with safeguards in place so our HOA's know they are truly in control of their funds.  Any management firm that has the power to move and spend your money at will, also has the ability to abuse this power and it happens more than can be imagined.  Trust between the Management Firm and the Association is important but this trust should also be based on the fact that an HOA's money is controlled by the Board and managed by the Management Company with Board approval for all expenses as deemed necessary by the Board of Directors and the policies of the Association.

Q:  Every HOA needs legal advice at some point or another, there are a vast array of reasons legal representation is important.  Does every HOA have the same legal needs?  Is it ethical for the same Legal Firm to Represent the Management Company and the HOA's/Condominiums it manages?

A:  No and No, We believe that each Association should have its own firm, it is ok for multiple associations to use the same Legal Firm but the Management Company itself should have its own separate legal representation for its needs, combining under one roof creates more conflicts and more issues than it would prevent hands down.

Q:  Who is accountable when so many things are all under the same roof.  A: Nobody under that roof! 

Q:  Who pays for this? A: The HOA does many, many times over.

The Answer is simple. Hire a HOA management firm that has no other motives than managing your HOA, the ethical way, this is obtained by using vendors we trust and have decades of experience with or by using your HOA's own preferred vendors you are satisfied with, not profiting from contracted work or up-charging (adding 15% to another vendors bill) ).  With HMDW, quality and satisfaction can be expected and if there are issues with a job your manager will have no problem addressing the issue because we are looking out for your bottom line first not OUR own.  We do NOT profit from work on your properties.  In fact we work hard to make sure your money is spent wisely because keeping properties is our goal not depleting your coffers.  Our Management fee is flat rate and the quoted rate can be counted on at years end to be what we said it would be.  With decades of real world experience you can sleep well knowing we sleep well.  We sleep well because our ethics are of the highest standards and we do not cross the line that so many other firms have to cross to maintain their own.... bottom line.