HOA Property Manager in Austin High-End Condo Community
Robin SimonBusiness Member
Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes
Harpoon Capital514 Reviews
HOA Property Manager in Austin High-End Condo Community
4 Replies
- Honolulu, HI · Member since 2008 · 3k+ posts · 2k+ votes1mo
I know nothing about your market...but, what is the actual problem? Management companies work "at the direction of the Board" by law and per project bylaws. If the Board is making poor decisions, either intentionally or due to "no experience", they need to get educated through readily available sources, or they need to get voted out. I realize with only 7 units that narrows the field, but it is, what it is.
- Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes1mo
Quote from @Richard F.:
I know nothing about your market...but, what is the actual problem? Management companies work "at the direction of the Board" by law and per project bylaws. If the Board is making poor decisions, either intentionally or due to "no experience", they need to get educated through readily available sources, or they need to get voted out. I realize with only 7 units that narrows the field, but it is, what it is.
I could go on and on - but the management companies are refusing to do any work at all - there are no "decisions" able to made by the Board
Harpoon Capital514 Reviews - Honolulu, HI · Member since 2008 · 3k+ posts · 2k+ votes1moWell, the law says different. Assuming these are legit management companies, and, assuming they have a typical management agreement in place with your HOA, either the Board is not authorizing work, and/or simply does not have the required funds to do so, or the Board is intentionally deferring the work. Management companies do not use their funds to maintain projects, and have no responsibility to do so. Their role is to guide Boards, and handle day to day issues per the project documents and local law with the projects own funds.
Quote from @Robin Simon:
Quote from @Richard F.:
I know nothing about your market...but, what is the actual problem? Management companies work "at the direction of the Board" by law and per project bylaws. If the Board is making poor decisions, either intentionally or due to "no experience", they need to get educated through readily available sources, or they need to get voted out. I realize with only 7 units that narrows the field, but it is, what it is.
I could go on and on - but the management companies are refusing to do any work at all - there are no "decisions" able to made by the Board
You post here looking for help. I have been a managing agent for a number of COA/HOA's with well over 100 units, and as few as 6. I am quite familiar with Governing Docs and financials in general; and have created and recommended annual budgets for Boards to review, adjust, and ultimately approve. I've worked with numerous Reserve Studies and created them from ZERO.
What I have seen over and over and over, are Owners that refuse to accept/understand their project documents, and refuse to participate, and insist on blaming others, when the fault is with the current and past Board's, and their choices/actions.
If you want to post a link or DM me with your specific bylaws, annual budget, and most recent (if any) reserve funding plan, and a summary of the "work" that is not being done, I am happy to review and point out important facts to support my statements, for no cost or obligation. I am retired now, and just trying to share my nearly 30 years of experience. - Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes1mo
Quote from @Richard F.:
Well, the law says different. Assuming these are legit management companies, and, assuming they have a typical management agreement in place with your HOA, either the Board is not authorizing work, and/or simply does not have the required funds to do so, or the Board is intentionally deferring the work. Management companies do not use their funds to maintain projects, and have no responsibility to do so. Their role is to guide Boards, and handle day to day issues per the project documents and local law with the projects own funds.Quote from @Robin Simon:
Quote from @Richard F.:
I know nothing about your market...but, what is the actual problem? Management companies work "at the direction of the Board" by law and per project bylaws. If the Board is making poor decisions, either intentionally or due to "no experience", they need to get educated through readily available sources, or they need to get voted out. I realize with only 7 units that narrows the field, but it is, what it is.
I could go on and on - but the management companies are refusing to do any work at all - there are no "decisions" able to made by the Board
You post here looking for help. I have been a managing agent for a number of COA/HOA's with well over 100 units, and as few as 6. I am quite familiar with Governing Docs and financials in general; and have created and recommended annual budgets for Boards to review, adjust, and ultimately approve. I've worked with numerous Reserve Studies and created them from ZERO.
What I have seen over and over and over, are Owners that refuse to accept/understand their project documents, and refuse to participate, and insist on blaming others, when the fault is with the current and past Board's, and their choices/actions.
If you want to post a link or DM me with your specific bylaws, annual budget, and most recent (if any) reserve funding plan, and a summary of the "work" that is not being done, I am happy to review and point out important facts to support my statements, for no cost or obligation. I am retired now, and just trying to share my nearly 30 years of experience.I will send you a DM - its too complicated to post here but if you are willing to take a look and help - I would actually love for you to do so and it would be extremely appreciated!
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