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  • Writer's pictureAmber

Is your HOA Manager a good match for your HOA?

Updated: Oct 22, 2022

We’ve created the first algorithm to calculate if you both are a good fit.

We look at four major components:

  1. Experience

  2. Scale

  3. Complexity

  4. Finance

Let’s use a real world example… Is The Helsing Group a good match for 428 Alice Owners Association?

Experience Match = 68.75%

The Helsing Group mainly manages younger HOAs. They are usually put in place directly by the developer when the HOA is brand new. The average age of HOAs they manage is 11 years old. 428 Alice is now 16 years old. Similar to people, buildings start to have more problems as they age. If a property manager only has experience with younger HOAs, they are probably not a good match for an older HOA.

An example of what can happen if Experience Match is lower

At 428 Alice, a majority of the emergency lighting in the three stairwells had burned out over the years. There was one stairwell where it was pitch black from floor 6 on down. It took The Helsing Group over 6 months to get this fixed and the building was fined by the Oakland Fire Department for taking so long to resolve this very serious safety issue. If The Helsing Group had more experience with older multi-story condo buildings this situation could have been avoided.

Scale Match = 70.25%

The Helsing Group mainly manages larger communities of Single Family Homes and Townhomes where residents are more spread out. The average number of units in HOAs they manage is 132.4. Whereas 428 Alice is an 8 story building with residents in close proximity and 97 total units.

An example of what can happen if Scale Match is lower

At 428 Alice, there is a resident who has a propensity for making unfounded accusations against fellow residents. She has accused residents of such things as breaking into cars in the building’s garage, stealing building materials, flooding her unit, etc. Despite numerous complaints from residents, The Helsing Group refused to take any action. Apparently they were afraid to do anything since this resident is an attorney and threatens to sue them. Unfortunately, residents had to take action on their own and report the resident to HUD, DFEA, the CA State Bar and the Oakland Police Department.

Complexity Match = 33.75%

The Helsing Group mainly manages Single Family Home and Townhome communities. 428 Alice is an 8 story condo building. Single family homes and townhomes are less complex and usually have much fewer maintenance and security requirements compared to a multi-story condo building.

An example of what can happen if Complexity Match is lower

At 428 Alice, when the Oakland Fire Department performed their inspection of the building, they discovered a homeless person had been living in the boiler room on the roof for months. If The Helsing Group had been doing regular building walkthroughs this serious security issue should have been avoided.

Finance Match = 45.15%

The average yearly budget for HOAs managed by The Helsing Group is $432,818. The annual budget for 428 Alice is $958,644.

An example of what can happen if Finance Match is lower

At 428 Alice, previous boards had accrued 2 years of missed Reserve Fund transfers. When The Helsing Group took over managing 428 Alice finances, they initially acknowledged the illegal borrowing from Reserves and sent a notice to all residents that the missed reserve transfers need to be repaid. No repayment plan was ever proposed and instead, The Helsing Group moved Construction Defect Settlement Funds into the Reserve Fund to make Reserve Funding appear much higher than it actually was. The Helsing Group was completely unaware that using Construction Defect Settlement Funds for anything but Construction Defect repairs potentially makes money taxable by the IRS. If The Helsing Group had more experience managing HOAs with more complex financials this potential tax liability could have been avoided.

Overall Match = 54.48%

428 Alice should find a property manager that is a better match.

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