I own a condo in a 6-unit building in Uptown New Orleans. For the past 10 years we have handled all dues collection, insurance payments, and maintenance on our own between the owners. Circumstances are changing and we've decided that we need a property/building manager to handle essentially everything in common (i.e. no rent collection or unit maintenance).

Two questions:

1. What should we expect to pay someone to handle dues collection, insurance payments, oversee any common area maintenance and upkeep, and hire and manage contractors when necessary for building repairs?

2. What would you look for in terms of this type of service? Do they need to be insured in anyway or have any type of license? Any special qualifications we should look for?

In addition I'd be happy to take any recommendations in the New Orleans area or any other advice that I haven't thought to ask about.

Thanks in advance.

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Posted by baldona

Florida

Member since Feb 2016

20396 posts

Posted on 4/11/16 at 6:50 am to Amory Blaine

You need a CAM, Community Association Manager. Just like a HOA community or apartment complex.

Their cost is usually by unit per month I believe, my neighborhood pays $13/ house per month. But I'm guessing for something smaller its going to be more like $25 per unit/ month. No idea though.

Don't forget about lawyer's fees, as once you start going professional your legal costs are going to soar.

My HOA costs are about 20% month to CAM and 10% a month to lawyer just as an fyi.

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Posted by tigeraddict

Baton Rouge

Member since Mar 2007

11794 posts

Posted on 4/11/16 at 8:16 am to baldona

cost depends on the services the management company offers and the number of units. My HoA pays $6.50/month per house in the subdivision, but there are 142 houses in the subdivision. this is also in BR

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