Associa Arizona Helps Self-Managed Community Get Back on Track

Introduction

This 284-unit community located in Tucson, Arizona has been managed by Associa Arizona since 2017.

Challenge

The community was unable to continue self-managing due to aging volunteers. In addition, there had been no assessment billing for at least three years, all account ledgers were kept by hand, and there was only one person keeping track of incoming and outgoing funds. Due to the low assessment rates, the association also couldn’t afford legal representation or an accountant to review its records.

Resolution

Immediately after partnering with the community, Associa Arizona arranged for pro bono counsel and agreed to conduct account-by-account verification in-house. The community manager worked closely with the accounting department and the board to ensure proper procedures were followed. Ultimately, under the advice of counsel, debts prior to 2015 were forgiven, new accounting books were opened, and dues for FY2015-2017 were billed and collected.Associa Arizona’s executive team and the community manager also developed a funding plan that recommended a multi-year special assessment, an increase in regular annual assessments, and a reduction of operating expenses, all of which were unanimously approved by the board.Thanks to Associa Arizona’s work, the community is anticipated to be fully back on track in five years.