SCENARIO
A self-managed community with 170 single-family homes in Tucson, AZ was in need of several large project repairs including extensive street repairs. The community had never increased the necessary assessments so funding was extremely limited. This community was in need of professional management.
FIRSTSERVICE RESIDENTIAL SOLUTION
The community’s Board of Directors hired FirstService Residential as their association management company in 2011. After completing a community evaluation and under the board’s direction, FirstService Residential identified the street repair improvements as the priority. To begin, the Edgebrooke Village community manager sought out three industry-leading contractors to bid the repair work and presented them to the board for review. The board determined that a special assessment was needed and collected over $150,000 to fund the necessary repairs. The vendor selected offered a “green asphalt” option, which was more cost effective than the other bids. This option provided the community with a product that eliminated the removal and re-grading process, noise reduction, increased durability, and increased resistance to reflective cracking. The board was also able to replace all speed bumps within the community.
“The overall positive impact of hiring FirstService Residential is evidenced by the fact that Edgebrooke’s finances improved significantly, and that the board was able to organize and implement a special assessment to repave the community streets... This would not have been possible if Edgebrooke had not hired a management company and the expert services of our community manager.”
-Former Board President, Edgebrooke Village
OUTCOME
Since professional management was put in place, the community has been able to better enforce their CC&Rs, identify where improvements need to be made, set a plan of action for completing these projects over the next several years, and establish financial stability to avoid future special assessments. FirstService Residential brought in a knowledgeable and localized team to the Edgebrooke Village community which in turn was able to implement an evaluation of the community - notating specific areas for improvement. Through this evaluation process, the FirstService Residential team member conducted an estimating process using three reputable vendors and assisted with implementing a special assessment collection. The rubberized coating project took only five days to complete and transformed the appearance of the community immensely. The green alternative product that was used increased cost efficiency which in turn saved the community and its residents from having a much larger special assessment. All of this saved the Edgebrooke Village community time, money and effort by partnering with FirstService Residential.
