Condo Community Thrives with Proper Management from Associa Nevada South

This condominium community consists of 96 units and features amenities, like a clubhouse, pool, and spa. Associa Nevada South has managed the community since 2017.

Challenge:

This condominium community’s board of directors had a lack of confidence in its previous management company. In addition, it had financial issues that stemmed back to 2008, when the association realized it was underfunded with $25,000 in both operating and reserve accounts. The community’s previous management company had not sent accounts to collections, allowed delinquencies to stack up, and deferred maintenance on critical components. All these factors led the condo community’s board of directors to seek new management.

Resolution:

The association’s board decided to team with Associa Nevada South in 2017. Since then, the management team has worked closely with the board to get them on the road to better financials. It increased assessments and added a reserve assessment. Three major projects have already been completed and another two are being finalized. With Associa’s help, the association is now 80% funded and continues to see an increase in homeowner involvement. Today, management actively works with the board to identify areas of concern and address them immediately. In efforts to educate the board, the management team provides resources that offer insight to board member roles, responsibilities, and legal measures. The board of directors now trusts its management team and often provides positive feedback.

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