HOA Services & Pricing
List of Services
Welch Randall Real Estate can provide a customized list of services to help provide top quality service for your community. Below is a list of the most standard services provided for the communities we manage:
- Monthly Statement of Accounts (Available 24/7 On-line)
- Monthly Reconciliation of Bank Statements
- Banking Services (Deposits/ACH/Fee Management)
- Monthly Income Statement (Available 24/7 On-line)
- Monthly Budget Comparison YTD (Available 24/7 On-line)
- Monthly General Ledger List (Available 24/7 On-line)
- Monthly Past Due List (Available 24/7 On-line)
- Monthly Report of Annual, YTD, and Monthly Financial Statement Reports
- Free Legal Collections for Past Due Accounts (through 90 days)
- Payables List for Board Approval (1-2 times each month / provided electronically)
- Management of Vendor Contracts and Bidding from office. (Onsite supervision of vendors an additional fee of $55.00 per man hour)
- Disbursement of Monies to Vendors with No PM Markup
- On-Site Supervision When Requested at prevailing hourly rate
- State Required Reserve Study Accounting and Supervision
- Enforcement of CC&Rs, By-Laws, Rules & Regulations Under HOA Board or Developer Direction
- Credit Card and ACH Capability (expenses paid by resident not the HOA)
- Attendance at Board Meetings in person or via phone / 1 - Annual Meeting
- Preparation of docs for annual meeting and board meeting as requested
- Preparation of 1-2 community newsletters per year as desired by HOA board.
- On Line Meetings and Internet Conference Calls – Free Service
- Visual Property Condition Reports
- Text Message / Email Messages (no additional charge) for community wide needs or individual.
- Web Site Creation (Each HOA has a Web Page to Post HOA Documents and Notices, Can be Password Protected) – This is linked to our site but all docs can be provided
- Web Site access for all community docs (free to everyone) including Realtors, Title Companies, Lenders and Homeowners
- Direct Work Order Posting by Residents On-Line
- Free Contact and Mailing for Citations and Violations
- Dispatching of Service Calls to Vendors/Contractors
Pricing for community management varies based upon the level of supervision the community board would like to receive from the management company onsite. Welch Randall offers a list of standard services provided with each management contract. The list of services is provided on this page.
For most communities our pricing ranges from $9.00 - $12.00 per door / per month to manage. The most common services that increase the price for community management services we provide are the following:
- Meeting Attendance - If a community would like to have a property management representative onsite at a monthly board meeting, the cost for those services will increase the monthy management fee rate.
- On-sight walk-through's - If the board would like to have the management company peform walk-through's on a weekly, monthly, quarterly or other frequency basis, the number of walk-through's requested will affect the management fee rate.
Are you a board member or community member in a smaller community? Many times we get the question "what is your base management fee for smaller communities"? Currently, our base management fee is $495.00 per month. Typically the smallest community we manage is around 25-30 units. The cost per unit to have professional management for smaller communities can be high and so many communities will look at self-managing options or options of using an online-based software to help manage the financials of the community. If you would like to consult with us regarding your community please reach out to us firstname.lastname@example.org
For the vast majority of our communities we provide the standard list of services provided plus the following:
- 4 Board Meeting Visits per year
- 1 Annual Board Meeting Attendance
- 4 Property Condition Walk-Through's
With that in mind, the standard pricing structure based on the number of units ranges typically as follows:
30-45 Units - $495.00 per month management fee
45 - 70 Units - $495.00 - $695.00 per month management fee
70 - 100 Units - $700.00 - $995.00 per month management fee
100 - 150 Units - $1,000.00 - $1,495.00 per month management fee
150 Units Plus - Please seek a customized quote
Once again, these are estimate prices. For a customized quote for your community please reach out to us at email@example.com or via phone at 801.399.5883.
Welch Randall charges a setup fee based upon the size of the community we are managing. If you are looking to transition from one management company or self-managing to Welch Randall, the standard time to transition properly is 45-60 days.
Setup fee rates range from $395.00 - $895.00. The following services are provided with the setup fee.
- Setup of Bank Accounts for Management Company
- Inputting all new owners into the software system
- Inputting all new vendors into the software system, creating checks, etc.
- Verify Tax ID information, setup registration on State HOA Website and HUD site.
- Create a new website link on Welch Randall’s page including CC&R’s, Bylaws and other community docs
- Review of all CC&R’s and community docs
- Creation of Welcome Packet for New Homeowners
- Working with Vendors to setup accounts for necessary contracts, including utilities and other community related services.
- List of residents (names, addresses, emails, phone numbers)
- Setup of property on 24/7 maintenance hotline and online software for maintenance.