While your monthly HOA dues probably feel more like taxes collected by an inefficient government bureaucracy, they are in fact revenue. We define yearly revenue for an HOA as the total amount of dues collected in a year.
So how is your HOA’s yearly revenue related to your Association Manager?
Think banks and assets under management...
While the money in your bank account isn’t the bank’s, they help you manage it. Similarly, your monthly dues don’t belong to your Association Manager but they should help you manage it better.
People with high incomes usually have more complex financial situations and need a bank that is equipped to handle those. Similarly, HOAs with high revenues usually have more complex financials and need an Association Manager that can provide adequate guidance and support.
Association Managers that normally manage HOAs with smaller budgets may not have the necessary resources and experience for larger budget HOAs. Conversely, Association Managers that normally manage larger budget HOAs might have difficulties with the constraints of smaller budget HOAs.
Find out the average yearly revenue of HOAs for your Association Manager here: