Have HOA Management questions?
We are interviewed by perhaps 75 boards a year who are interested in our services. Not surprisingly, they share similar concerns and ask similar questions. We are providing these “FAQs” to you so that you may have better clarity of our company. This list is not comprehensive, but here are the questions we respond to at many interviews:
What is your "story"?
From 0 doors under management in 2012, Progressive now manages over 1,000 residential properties (doors). In 2014, Progressive started allowing agents working for their sister company, Partners Real Estate Group, to manage properties. The goal is to add a minimum of 50 residential properties a year. In 2020, when the Covid lockdown occurred and there was the potential for a statewide “rent holiday” and a threat to residential management income, he started Progressive Association Management and now expects to add 30 to 40 associations a year or 2,000 to 3,000 owners. We currently manage about 125 associations and 7,000 owners.
How long have you been in business?
Where is your office?
What makes your business different?
At Progressive, we pay our managers 50% of the base management fee and limit them to 5 communities or 500 owners, whichever comes first. Since they are licensed real estate agents, they are not salaried, but rather earn a commission. Most are not full-time working out of a cubicle in one of our offices, but work part-time from their home. By limiting the number of communities and owners they manage and paying them more, we expect them to provide a higher level of customer service. Also, if it is a fit, and you are satisfied with their service and they enjoy managing your community, they may be your manager for years because they will not be moved up to more profitable community or be promote to Senior Community Manager, because there is no such career path at Progressive.
What are all your fees?
Office Expense | Reimbursement |
---|---|
Paper | $.10 |
Printing | $.10 |
Envelope (small) | $.25 |
Copies (black & white) | $.25 |
Copies (color) | $.40 |
Envelope (large) | $.50 |
Postage | $.63 (or cost) |
Per Box Storage | $3.00 |
How do you calculate your base monthly management fee?
Why do you charge a software access fee of $1.15 per owner per month?
What if we don't like our Community Manager?
How can you provide better communication and customer service?
Do you have proper insurance?
- General Liability – This covers any damage to person or property at a community, rental property or during the course of work.
- Errors and Omissions – This covers an agent for real estate related activities includes residential property management, association management and real estate sales.
- Cybertheft – Anyone who handles money is a target of unscrupulous criminals looking to steal funds. This can be business operating, trust or even reserve funds.
- Workers Compensation – If an employee, manager or agent is injured on the job, their injury is covered by this state fund.
- Fidelity Bond – We have a $1,000,000 Fidelity Bond to protect the funds we have on hand.
How do we start using your company?
What is your Vision, Mission, Purpose & Principles?
We are happy to share our Vision, Mission, Purpose and Principles. Every manager, team member and anyone else associated with our company is introduced to these concepts and held accountable to them.
Our Vision:
We set the standard of excellence in association and residential management services.
Our Mission:
We liberate real estate agents from income instability.
Our Purpose:
The more successful we are, the more good we can do.
Our Principles:
– We are in the business of constant change.
– If is too calm, we are not going fast enough.
– Results over process: don’t let perfect be the enemy of good.
– Taking market share is a hand to hand battle.
– The customer is not always right, just usually. Find out first.
– Do what you said you were going to, when you said you would do it.
– We make money doing the things few else want to do.
– If we do all the above, we can’t be stopped.
– The customer is not always right, just usually. Find out first.
Why do you charge a fee to take the meeting minutes?
Why do you charge an annual fee of $5 per owner for budget assistance?
What is included in the base management fee?
- Owner online payment of monthly assessments
- Monthly billing and collection of dues
- Reminder statements to homeowners who do not pay on time
- Collection of late fees (split 50/50 with association)
- Monthly accounting services
- Balance Sheets
- Monthly Profit & Loss
- Year to Date Profit & Loss
- Collection Status
- Bank Reconciliation
- Bank Statements
- Register Report
- Attendance of a meeting with board monthly
- Attend one annual meeting with board
- Schedule, notice and coordinate Board and general membership meetings
- Monthly visitation and walk through of premises with designated board member
- Payment to all vendors with prior approval from board
- Due diligence of all vendors
- Review of all vendor work
- Communication with board on all matters
- Any payments to vendors, in any amount to be communicated to board members
- Provide escrow holders information and documents as requested in writing with fees charged to the escrow holder for services rendered
- Assist with securing other professionals as needed
- Reserve Study
- Income Taxes
- Legal Expertise
- Debt Collection
- Compliance with all local and state laws
- Report annual budget to association
- Conduct annual election for association
Will you increase our management fee in a year?
How long is your contract? Can we cancel it?
Are your Community Manager trained and certified?
Do we get to choose our Community Manager?
If your Community Managers are Independent Contractors, do they work for other companies?
Can we still use our vendors?
Can we see a sample contract?
Will you do “financials only”?
Still have a question? Contact us at Progressive Association Management, and we’ll talk about anything on your mind.
We are the best Property Management Company in the Counties of Los Angeles, Orange, Riverside, San Bernardino and San Diego..
Progressive Property Management Inc. has been involved in the local real estate and rental market for years. We understand the price points, the tenant pool, and the local vendors and contractors.
Got Questions About Property Management?
Progressive Property Management Inc.
1290 N Hancock St, Ste 202, Anaheim, CA, 92807
202 S. Lake, Pasadena, CA, 91101
1-800-665-2149 | (714) 528-5522
info@progressive-am.com
CA DRE #01958885
Progressive Property Management Inc.
San Diego Office
138 Civic Center Drive, #201
Vista, CA 92084
1-800-665-2149 | (714) 528-5522
info@progressive-am.com
CA DRE #01958885