Management company required by law?
I can’t find any law in Arizona that says HOAs must hire a management company. One of our board directors thinks that it is a law? Is it a law or not, or can HOAs totally self-managed? Thank you very much
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Carla.
There is absolutely no law in Arizona that requires a management company, In fact only about 65 % of the over 9500 associations in the state are professionally managed the rest are self-managed. Being self managed can be very cost effective for smaller associations of 100 homes or less.
Dennis
Wow, only 65% are professionally managed. Amazing and telling stat! Thank you, Dennis!