HOA Management Fee

[Anthony Henderson]

Hello,
For condominiums, how much do property managers charge to manage the HOA and Complex? Usually went rental properties it is a percentage of rents but how do they do it for complexes? Thank you!!

[John O'Neal]

Hey Anthony,

It depends on what type of management they provide. Finance-Only management, or Maintenance-Only management will be cheaper than full service. The amount of units the HOA has is also a factor. Do you own a unit in an HOA? If so, request a copy of the approved budget for the current year from the management company. PM's are required to provide this to all owners. It should show how much the HOA is paying them annually and monthly.