Brett,

Accounting only and keep in mind The Parke has a monthly assessment whereas OPA has an annual assessment. Thus, our monthly processing costs are higher in those cases in which our owners have not signed up for direct debit. Also, L/N charges us for each late or delinquency letter they issue.  Nothing is free.

We have three on-site Legum Norman employees.  We pay L/N their salary, taxes, workman’s comp, medical benefits,  etc.  L/N does not contribute to their retirement. They are supervised by L/N (pretty much hands off) with a dotted supervisory line to the Board President. 

The letter L/N sent to OPA with fee rates is obsolete. L/N was acquired by Associa, a national HOA management company out of Texas. Associa would now execute a contract for services.  More remote control in my opinion and they want to sell individual homeowners services through a service called Townsquare (TownSq). 

If I was King of OPA, financial services would remain in-house under the local supervision of the Finance Officer.