Management for Small HOAs in Denver – The Co-Managed Solution
By building an economy of scale, small HOAs across the Denver Metro can now secure a management company at a budget-realistic price
For years, we have fielded calls from HOAs under 30 homes looking for a management company. Some of these HOAs are self-managed communities with board members looking for some relief from the responsibilities of running an association. Others have a community manager whose portfolio is simply too large to provide the service the client needs. Traditionally, these smaller HOAs have fallen through the cracks of our industry. They either resign themselves to self-management, or to chronic neglect at the hands of an overworked community manager with too many clients to reasonably service each.
This is a problem because in neighborhoods like Sunnyside, LoHi, River North / RiNo, Cole, Wash Park, Capitol Hill, Baker, and Uptown, most of the HOAs are in fact “smaller” communities. Some are historic properties that date back to the golden era of apartment development in the 40s and 50s. The grand mansions of Denver’s historic elite have been converted into condo projects with fewer than 20 homes. New real estate developments in these dense areas of our metro are also going up on a similar scale. The need for management for small HOAs is real and it is urgent.
Historically, we’ve had to turn smaller HOAs away because we were unable to provide the service they deserved at a realistic price. Last year, we got so many calls from these unique HOAs in places like Uptown, Golden Triangle, and Capitol Hill that it warranted a serious strategic conversation. We paused and asked ourselves: how can we develop a service model in order to work with these associations for a price proportional to larger HOAs? Then, how to we do this while not overloading a portfolio manager? We decided to build an economy of scale that helps leverage our client’s collective buying power with ourselves and vendors.
CAP’s “Co-Managed” HOA program is a novel solution for unique small HOAs across the Denver Metro Area. It provides accurate HOA accounting, full-scope administrative support, incredibly fast customer service (check out our Google reviews!), compliance, budgeting, and property management. What we ask in return is that we boards are willing to assume a light element of management duties, such as meeting vendors onsite, or scaling board meeting attendance back to twice annually. This allows us to provide our service for hundreds, instead of thousands, per month.
If you have a property in River North, Golden Triangle, Capitol Hill, Uptown, Cole, Five Points, The Highlands, Baker, or elsewhere in the metro area, we’d love to hear from you.