24k/year in income for prop mgmt of small HOA- <10 hours per wk

2 Replies

Starting this topic with another thread title to generate more interest! 

Anyone have any success in carving out a niche in property management of subdivisions, condominium associations, etc. for an HOA? I have not seem much discussion in this forum and this seems almost like passive management. I am going to present a proposal soon to a community and it seems like it require less than 10 hours per week to manage. The board has in house counsel (no legal matters to attend to), and manages the bidding for new maintenance contracts. In short, it seems like it would require only attending board meetings once per month and managing ongoing maintenance requests for the community and general upkeep (for example landscaping). The relatively small community is offering 2,000/month for a service provider. I think there are some great opportunities to automate most of the maintenance requests through digital tools (submission forms) that would minimize relentless phone calls. It would seem easy to find a virtual assistant to triage and route maintenance requests. Any thoughts from an experienced manager in this field on things I I might not be thinking about?

Typically you will need a CAM license or similar to manage communities.  Check your local laws. As far as property management goes i have always heard community management is the least lucrative.    

Thanks- no CAM license requirement in my state. This opportunity may not be the norm, but 2k/ month to manage a few contractors for common areas (entrance landscaping, pavings, etc) seems lucrative to me.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you