|Re: Using a Management Company||<– Date –> <– Thread –>|
|From: Kathryn McCamant (kmccamantcohousing-solutions.com)|
|Date: Wed, 4 Nov 2020 16:20:39 -0800 (PST)|
We've been moved in since 2006, and have tried all variety of approaches to bookkeeping and property management. We originally used a member volunteer for bookkeeping, but changed to an outside bookkeeper because if something went wrong with the bookkeeping, we wanted someone we could fire. After frustrations working with a condo property management company (we simply don't fit into their business model), we switch to a local bookkeeping firm. It took a better part of a year to get the system working smoothly and the reports we want, but now it seems to be working very well with close overview of an active finance committee. Katie -- Kathryn McCamant, President CoHousing Solutions Nevada City, CA 95959 www.cohousing-solutions.com and homeowner in Nevada City Cohousing (finance and landscape commitees) On 11/4/20, 1:08 PM, "Cohousing-L on behalf of Chuck Harrison" <cohousing-l-bounces+kmccamant=cohousing-solutions.com [at] cohousing.org on behalf of cfharr [at] gmail.com> wrote: Hi Sharon, At Duwamish Cohousing in Seattle WA we have 23 units and about half the budget you do. We have never used a management company. Water, sewer, and garbage are paid in common, budgeted into monthly dues (approx 25% of total budget), and not metered to units. Gas and Electric are individually metered and do not pass through the homeowner association. Our facilities & maintenance tasks routinely fall behind and I am sure that professional management would handle things more promptly. Our residents are remarkably tolerant. FWIW I am skeptical that a management company would get better or more cost-effective results, but more work would be accomplished sooner. Bookkeeping is handled using Quickbooks by a volunteer treasurer, often with another volunteer assistant. No problems in the 5 years I have lived here. We pay an accountant to prepare our annual tax filing. We pay for a professional Reserves Study every few years, which is, I believe, required by state Condo law. Chuck On Wed, Nov 4, 2020 at 6:59 AM Sharon Villines via Cohousing-L < cohousing-l [at] cohousing.org> wrote: > I have long believed that management companies are not effective for > cohousing. Now I have an opportunity to lead a study to see if I can > convince other people here. We pay close to $2,000 a month for both > facilities and financial management. > > Independent consultants are available for specific facilities related > issues and they have a higher level of expertise. A lot of information is > available for the cost of membership in the CAI, which an information > source and a networking opportunity with other condo owners. We have also > had a problem with turnover — just as we learn how to work together, our > manager will leave and we start over even though we are still working with > the same management company. > > The financial end is handled at the management company by a book keeper > that uses the same computer based systems that we could use ourselves. They > also use services that handle the check processing for condo fees. But with > so many people using direct deposit, etc., there are far fewer than even 10 > years ago. The current company has done well on actually paying bills (not > all have) but we do an enormous amount of monitoring, receipt tracking, > double checking accounting, etc. > > I know some communities have mentioned in the past that they do their own > financial accounting. I’m interested in hearing from communities where the > budget includes the whole community — not lot based models where the > homeowners pay for their own property. Our budget for 2021 is $260,000+ and > includes community internet, tv antenna, satellite dishes, water, gas, > satellite TV in the common house, etc. > > It was a revelation when going to a CAI annual conference to see who many > services are available and which management companies are using. I believe > we are paying for the middle-management. > > Sharon > ---- > Sharon Villines > Takoma Village Cohousing, Washington DC > http://www.takomavillage.org > > > > > _________________________________________________________________ > Cohousing-L mailing list -- Unsubscribe, archives and other info at: > http://L.cohousing.org/info > > > > _________________________________________________________________ Cohousing-L mailing list -- Unsubscribe, archives and other info at: http://L.cohousing.org/info
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