Property Management

As most (but not all) SV 1 & 2 homeowners relocate to warmer climates as winter sets in what about those questions you might have? No longer within walking distance of a Board member or able to stop in at Frank Smith offices to see Jim Rathbun, you have the opportunity to ask questions via this website.

A question recently asked by a homeowner pertained to the property management fee that Frank Smith & Associates charges SV 1 & 2 HOA. When the current Board approved the contract with Frank Smith & Associates (October 2013), the same services were sought (as had been contracted in the previous property management arrangement) and at the same competitive rate.

Property management organizations will charge an HOA a fee depending on the size of the community and the extent of their services provided. Accounting and financial advising services are common services many HOAs use (including SV 1 & 2 HOA). This may be simple bookkeeping or extend to suggesting how much to budget for future costs, when repairs and maintenance to common properties are likely to be necessary, and how to find a good contractor. Advisement to the Board by the property management may include reporting the HOA's financial status, maintenance needs and overall progress of projects. These are provided to SV 1 & 2 HOA through Frank Smith & Associates.

Homeowner associations commonly hire property management companies to ensure implementation of their policies and management of the day-to-day community assets. This service is providing huge dividends to SV 1 & 2 under Jim Rathbun’s project management, where maintenance of the buildings and common grounds is being leveraged with all the other HOAs Frank Smith contracts with, providing great value to SV 1 & 2 HOA.

Reviewing past and current SV 1 & 2 HOA annual budgets, one can see the precise numbers for these fees and how this current Board has managed those fees to ensure that SV 1 & 2 continues to be that great place to live on the mountain, while maintaining a high quality living environment.