We typically charge the following fees:
The initiation fee is what an Association Management company may charge to handle the day-to-day management of your community. This can range from a couple of thousand dollars up tens of thousands depending on the size and need of your Association.
Monthly Management Fees:
There is an Association Management fee each month, per unit or “door”. This amount will be clearly stated in the Association Management contract.
Extra Services and Charges:
An Association manager can still provide services that are not initially stated in the contract, but it will come at an additional cost. On-site personnel are one such additional fee.
Termination and Transition Fees:
If for some reason, the Association wants to terminate the management company’s services before the end of the contract, or vice versa, a termination fee will be imposed.
Then, at the end of the year, if the Association wishes to transfer to change their management company, there may also be transition fees. Your former company can orient the new management but they will have to be compensated for it.
Services You Can Expect With Your HOA Management Fee