One of the common questions that arise when it comes to condo association management is, “How do management companies charge for their services?” The answer to this question can vary, but it’s important to have a clear understanding of the fees involved.
In this article, we will explore the typical fee structure used by condo association management companies, with a special focus on Boston HOA Management’s approach.
Per-Door Basis: The Standard Practice
The most common method of charging for condo association management services is on a per-door basis. In simple terms, this means that the management company charges a certain amount for each unit or door within the condominium complex.
For instance, if your association has 8 units, and the management fee is $50 per door, you would pay $400 per month or $4,800 for the year.
Additional Fees and Revenue Sources
While the per-door fee is a primary source of revenue for management companies, it’s essential to be aware of any additional fees that may apply.
Some management companies generate income from various sources, such as:
- Condo Fees: These fees are collected from residents as part of their association dues. They typically cover common expenses like maintenance, landscaping, and insurance.
- Collections: Management companies often charge fees for collection services, especially when dealing with delinquent payments. This can include sending notices and documentation related to overdue fees.
Our Perspective
Boston HOA Management takes a distinctive approach to pricing that emphasizes fairness and transparency. We believe that the size of your building should not dictate the level of service or the fees you pay.
Our philosophy is that regardless of the size of the condominium complex, the same amount of work, communication, and dedication go into managing it.
Here’s how our fee structure works:
1. Minimum Fee
For smaller buildings with three units or fewer, we have a minimum charge of $50 per unit per door.
2. Discount for Larger Buildings
The larger your building is, the more of a discount you’ll receive per door. We want to ensure that our pricing remains fair and accessible to all condo associations, regardless of their size.
3. Sunk Costs
We understand that there are certain fixed labor and expenses associated with managing any building. Our pricing takes these into account to ensure that you receive the best value for your money.
4. Controlled Expenses
We have on-staff maintenance teams that allow us to control labor costs effectively. Additionally, we provide flat fee pricing for various services to give you greater control over your budget.
The Boston HOA Management Difference
When evaluating condo association management fees, it’s essential not only to consider the cost but also to understand what you’re getting in return for your investment. Boston HOA Management offers a transparent and fair fee structure that ensures you receive top-notch service, regardless of the size of your condominium complex.
If you’re looking to assess whether you’re being charged the appropriate amount for your management services and want a partner who provides peace of mind along with excellent service, consider Boston HOA Management.
We’re more than just property managers; we’re your trusted partners in ensuring the well-being of your community.
