Condo management company recommendations

[alstnprkngrfuge.livejournal.com]

How much do condo management companies typically charge small condo associations (less than 10 units) for their services, such as a fee just to be the management, and for things like cleaning, trash removal, landscaping, and snow removal?  And does anyone here have a management company they can recommend?

Thanks!

Comments

[arcanology.livejournal.com]

We are a small set of condos who had a management company... once they had run through our savings on projects (with them getting a cut for managing) they were uninterested in ordinary management. They tried to double-bill us on the way out. I wish I could remember the name to tell you to avoid them. A hard lesson learned but now we just pay a couple of our own, one to do light maintainance and hire out the larger and another to keep the accounts.

Being small means most of them will not be interested in you and the ones that will only so long as they can cheat you.

[mattdm.livejournal.com]

Yeah. For the amount of money they could get legitimately, it's just not financially viable to not try to screw you over.

[starry83.livejournal.com]

I own a condo in a 10 unit building in Davis and pay just over $200 a month, including all the things you mentioned, plus heat.

When I rented last year, my building had Nordblom Management (out of Allston, I think). At least from a tenant's perspective, they were great. They were friendly and competent on the phone and fixed any issue within 24 hours.

[mattdm.livejournal.com]

But does your condo association pay a management company? If so, what percentage of the $200 is that?

[starry83.livejournal.com]

I pay it directly to the management company (Harvard St. Management), so I'm not sure what percentage is going to them and what is going to the condo association's reserve account. The company seems fine, nothing outstandingly good or bad. If something goes wrong in the building and they have to come fix it, they charge an extra fee to the condo association.

[mattdm.livejournal.com]

You should get a yearly budget at some point. I highly suggest you check it out so you know where your money is going. :)

[alstnprkngrfuge.livejournal.com]

Thanks!

Does the fee also include cold water/sewer and master insurance? And does it include contributions to a reserve fund?

We're paying a lot more (per unit, with slightly fewer units) for these things, plus the things in my original post, but not heat.

[starry83.livejournal.com]

I believe it includes water, master insurance and reserves, although as I said, I haven't looked at a budget and so I don't know for sure. I don't pay anything for any of those separately, so that's my best guess. As you said, I should look at a real budget.