Mixed-Use Community Finds Financial Success with Support from Neighborhood Services Corporation, An Associa® Company

This mixed-use community consists of both condominiums and homes. Located in Norman, Oklahoma, this community offers a gated entrance, pool, and private streets for its residents. Neighborhood Services Corporation, An Associa® Company, has managed the community since 2005.

Challenge:

The board of directors for this community faced challenges in quelling residents’ concerns over assessments. Because the community is mixed-use and includes various forms of housing, not all assessments are the same. Further, the community’s previous management team mismanaged its funds, and the community’s budget was severely impacted. The board needed a management team that could not only provide assistance in communicating with residents, but also help properly manage its funds.  

Resolution:

A board transition prompted the community to partner with Neighborhood Services Corporation, An Associa® Company for its community management needs. The management team quickly went to work. It helped board members ease into their duties while taking oversight of the community’s financials. Assisting the board to balance its budget and appropriately manage its funds, the management team was able to bring the community to a better financial standing.