My wife and I own a condo which is now a rental in a 14 unit property in W. Oakland. It's actually 2 buildings with 7 units in each, and strangely enough two separate HOAs - one for each building. My wife is on the board of one of the HOAs, but both HOAs are using the same property management company to handle the accounting and day to day property management issues.
The question for this post is, can some recommend a property management company that will handle a small number of units - either 14 or 7, and work with an HOA and is in Oakland.
Here's the background -- the current property management company apparently only manages much larger complexes -- 100 units and up -- and so is not doing a good job with this small fish of a property. They need to be replaced. That said, we will likely combine the HOAs in the process. There seems to be no good reason for having separate ones. Given that the HOA fee for our half of the property is $750/mo, it is the largest monthly expense the condo association has. And since both sides pay $750/mo, there is clearly a financial efficiency to be had for combining them. Again, weirdly enough, they have separate utilities bills, but other expenses are combined - landscaping, trash.
Please let me know if anyone can recommend a(n) property management company(ies) that could take this on. We don't feel like trying to self-manage as the board already takes on easily half of the work the property manager should be doing.
Free eBook from BiggerPockets!
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.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing