Pricing – Keys-Caldwell, Inc.

Community Management Pricing

Community management pricing is typically structured to give associations predictability in their cost of services. However, that pricing only covers a specific, predetermined scope of work.

Failing to understand this is arguably the number one mistake association boards make when hiring a management company. When expectations aren’t aligned with the contracted scope, frustration is inevitable. The good news is that this misalignment is entirely avoidable with clarity upfront.

Responsibility

An association board is ultimately responsible for everything that happens within the association. While the board cannot delegate its decision-making authority, it can outsource many operational responsibilities to a licensed community association manager in exchange for a fee.

These tasks may include, but are not limited to:

Meeting notices, attendance, and draft minutes
Monthly accounting, assessment collection, and delinquency processing
Vendor procurement, oversight, and payment processing
Onsite matters such as work orders, violations, and common-element inspections
And much more

The scope of these responsibilities has grown substantially over the years, especially as new state legislation continues to be enacted. In reality, community association management is closer to a professional service—much like legal work and could reasonably be billed hourly, albeit at a lower rate. Historically, however, the industry has relied on bundled, flat-fee pricing tied to a defined scope of services, even though those scope boundaries are not always clearly understood or consistently enforced.

Scope of Services

Flat management fees have both advantages and drawbacks. They offer cost predictability for the association, but they can also lead to confusion about what is—and is not—included. Community management is not a cruise-ship buffet. Paying a monthly management fee does not mean unlimited tasks can be requested without limitation.

At Keys-Caldwell, we work with each prospective community to develop a man-hour estimate based on the specific services the board wants us to perform. The product we provide is time and expertise. The more services requested, the more resources are required to deliver them. If a board wants to reduce costs, that means reducing scope. Conversely, if a board wants to be less hands-on, that requires a greater investment.

We recognize that boards want to be good stewards of the funds entrusted to them. However, cutting corners with a community management partner often creates downstream consequences hidden costs, inefficiencies, and increased risk that can end up costing the association far more in the long run.

1162 Indian Hills Blvd, Venice, FL 34293

Main Phone (941) 408-8293