Crescent Ridge HOA Management Company Overview
Crescent Ridge HOA has long partnered with a management company to oversee the day-to-day operations of our neighborhood. This partnership ensures the smooth running of essential functions that benefit all homeowners.
As with any vendor, the Board periodically evaluates the necessity and effectiveness of the management company. This process includes soliciting bids from other companies, reviewing performance, and considering the current needs of the community. Based on this thorough evaluation, the Board decides whether to renew the existing contract or transition to a new service provider.
This approach allows us to ensure that Crescent Ridge HOA continues to receive high-quality management services that align with the best interests of our community.
Thank you for your trust and support as we work to maintain and improve our neighborhood. If you have any questions or feedback about the HOA management, please feel free to reach out.
Current Management Company
Our current management company, W&M HOA Property Management can be reached through our Contact Form.
Whether you need assistance with landscaping, lighting, covenant issues, violations, billing, moving in or out, reviewing the HOA financials, or any other HOA-related matter, our management company is there to help.
Past Management Companies
Over the years, Crescent Ridge HOA has worked with several management companies. Transitions have occurred for various reasons, including non-renewed contracts, companies retiring, or businesses closing. Each management company has its own processes, software, and systems, but regardless of the provider, the HOA’s records and property (e.g., documents, accounting data) are always transferred during a management change.
Why Hire a Management Company?
The Board of Directors is made up of volunteers who dedicate their time to running the HOA. However, managing all the responsibilities of an HOA can be time-consuming and complex. While the Board makes decisions, much of the operational work—such as accounting, property management, and vendor coordination—is delegated to the management company.
Having a management company helps ensure:
- Board volunteers are not overwhelmed by the workload.
- HOA documents and records are properly maintained, preventing any from being lost or mishandled.
- Homeowners have peace of mind knowing the HOA is running smoothly year-round.
For example, in the event that there are not enough Board volunteers or Board members are unavailable due to illness, vacations, or other reasons, the management company steps in to keep things running. They handle tasks such as receiving mail, depositing checks, reconciling accounts, and preparing monthly financial reports.
One significant benefit of having a management company is the financial oversight they provide. By handling the finances, the management company minimizes the risk of financial mismanagement or embezzlement, ensuring that HOA funds are properly managed and secure.
How Much Do We Pay the Management Company?
Understanding the Costs of HOA Management Services
While hiring a management company is one of the HOA’s largest expenses, it provides essential services that benefit all homeowners, as outlined above.
The typical cost for full-service management ranges from $4 to $7 per lot per month. With 101 lots in our community, this translates to an estimated $500 per month. However, the definition of “full service” varies between companies. Some offer customizable plans from a menu of services, but in our experience, these often end up being more expensive while providing less comprehensive coverage.
In addition to the base monthly fee, there are often extra costs for specific services, such as:
- Printing and mailing letters
- Filing court documents, like liens
- Representing the HOA in court
- Obtaining and evaluating vendor bids
- Filing annual tax returns
- Maintaining a public website and/or homeowner portal
The Board carefully considers all these factors when comparing bids from various management companies. Our primary goal is to find a balance between the base service costs and any potential additional fees, ensuring the best value for our HOA while meeting the needs of our community.
The Software-Only Option
In recent years, an alternative to traditional management companies has emerged: using Evaluation of Software-Only Solutions for HOA Management
The Board recently explored the possibility of using software to manage HOA tasks without hiring a management company. At first, this option appeared to be a cost-effective alternative. However, after thorough research, we determined it was not a viable solution.
A software-only approach lacks the essential human services required to manage the HOA effectively. Tasks such as bookkeeping, checking the mail, patrolling the neighborhood for violations, attending annual meetings, and providing expert guidance to the Board cannot be addressed by software alone. Additionally, the costs of upgrading software to cover some of these needs reduced the potential savings significantly.
Ultimately, the Board concluded that the benefits of partnering with an experienced management company far outweigh the limited advantages of a software-only solution. The expertise and hands-on services provided by a professional management team are critical to the smooth operation of our community.
Thank you for your understanding and continued support of Crescent Ridge HOA. If you have any questions about the management company or its services, please don’t hesitate to reach out.
Proudly located in Owasso, Oklahoma 