Preparing for return to Full Service Property Management November 2025
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Wafco Mills HOA Management Quotes Comparison
As we plan our transition to full-service management by the November 2025 annual meeting, per Bylaws, Article 4(g) (Book 3239, Page 316, amended 2000) and NCGS § 47C-3-103, we’re sharing a comparison of quotes from Red Rock Management, HOAM, Inc., and Priestley Management Company to ensure transparency. Owners, please review and share your feedback by commenting at the bottom of this post or emailing WeLoveWafcoMills@gmail.com by July 31, 2025, to help us select the best partner, per NCGS § 47C-3-108. I have reached out to a fellow Real Estate Agent as well as a few other HOA management companies to see if they would like to share an additional quote.
Notes:
All quotes align with Bylaws, Article 4(g), authorizing professional management contracts.
Owners are responsible for unit interiors, not the HOA or management company, per Declaration, Article XVIII (Book 5081, Page 0717, amended 2000) and NCGS § 47C-3-107(a).
Share your feedback by commenting below or emailing WeLoveWafcoMills@gmail.com by July 31, 2025, to ensure a smooth transition by November 2025, per NCGS § 47C-3-118.
Priestly Management Proposal
HOAM Management Proposal
Red Rocks Management Proposal
Wafco Mills HOA Management Quotes Comparison
As we plan our transition to full-service management by the November 2025 annual meeting, per Bylaws, Article 4(g) (Book 3239, Page 316, amended 2000) and NCGS § 47C-3-103, we’re sharing a comparison of quotes from Red Rock Management, HOAM, Inc., and Priestley Management Company to ensure transparency. Owners, please review and share your feedback by commenting at the bottom of this post or emailing WeLoveWafcoMills@gmail.com by July 31, 2025, to help us select the best partner, per NCGS § 47C-3-108.
| Criteria | Red Rock Management | HOAM, Inc. | Priestley Management Company |
|---|---|---|---|
| Proposal Date | November 21, 2024 | November 22, 2024 | October 17, 2024 |
| Monthly Fee | $1,408.92 (66 units) | $1,188 (66 units) | $1,188 (66 units) |
| Annual Cost | $16,907 | $14,256 + $1,000 setup fee | $14,256 |
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| Contract Terms | At-will, 30-day termination | Not specified (assumed annual) | 1-year term (Jan–Dec 2025), 30-day termination, auto-renewal |
Notes:
- All quotes align with Bylaws, Article 4(g), authorizing professional management contracts.
- Owners are responsible for unit interiors and the utilities that service their unit, not the HOA or management company, per Declaration, Article XVIII (Book 5081, Page 0717, amended 2000) and NCGS § 47C-3-107(a).
- Share your feedback by commenting below or emailing WeLoveWafcoMills@gmail.com by July 31, 2025, to ensure a smooth transition by November 2025, per NCGS § 47C-3-118.
Based on the three quotes linked above that the Board of Directors has received, here is a summary of these proposals:
This email summarizes the three proposals received for full-service property management services for Wafco Mills Home Owners Association Inc.
Analysis
Priestley Management and HOAM Inc. offer the same monthly fee but Priestley Management offers many more services.35
Red Rock Management's proposal is more expensive but may provide a higher level of service.31 Red Rock emphasizes its at-will management agreement, flat-rate fee with no hidden charges, and advanced technology solutions such as a user-friendly online portal and A.I. customer service.3435
Priestley Management highlights its experience, professional accreditations, and comprehensive range of services.3637 They emphasize financial stability, strong collection practices, detailed reporting, and a commitment to protecting homeowner investments.9383940
HOAM, Inc.'s proposal is less detailed than the others.3 It lists basic services but doesn't provide the same level of in-depth explanation as the other proposals.3 It's difficult to assess the full scope of their services and expertise based on the provided information.3
🏢 Wafco Mills HOA Update: Red Rock Management Proposal & Contract Review
Dear Wafco Mills Owners,
Your Board met last week to review the full-service management proposals we’ve collected. After comparing the options, the Board voted to move forward with Red Rock Management as our preferred partner to support the Association as we transition back to professional management this fall. This decision was based on many elements of the quote but specifically, the board favored the Flat fee pricing offered by Red Rock.
On Tuesday, I met with Craig from Red Rock via Zoom. We discussed:
A 60-day transition plan to be completed by November 1st (ahead of our annual meeting).
The use of Red Rock’s online portal system for financials, work orders, violations, and owner communications.
The importance of tenant compliance with our rules and collecting all HO-6 insurance certificates (we currently have 39 of 66 on file).
Our leak protocol, which is spelled out in the Wafco Mills governing documents and the North Carolina Condominium Act (§47C-3-107) — making owners responsible for investigating and repairing leaks inside their units, with the HOA only stepping in if a common element (roof, gutters, structure, exterior) is proven defective. Craig confirmed Red Rock would support this approach, using our preferred vendors to rule out roof issues when needed.
Since that call, Red Rock has provided us with a draft management agreement for review. In comparing the original quote Dr. Haskell secured last year, the updated proposal Red Rock sent on August 25th, and the actual contract we received this week, we’ve noticed some important discrepancies. These include new fees (such as a setup fee, termination penalty, CPI increases, and hourly “beyond scope” charges), as well as differences in how inspections and leak investigations are described.
To be transparent, we’ve prepared a chart that shows the differences between:
The original quote,
The updated proposal,
The written contract, and
Craig’s Zoom call statements.
📄 Download the Comparison Chart
Some of these differences feel a bit “bait and switch,” which is understandably frustrating. The Board’s priority is to ensure that any agreement we sign:
Reflects the services and “flat-fee” model that was presented,
Prevents nickel-and-diming through hidden reimbursables or hourly charges,
Protects the HOA from absorbing owner responsibilities (such as interior leak investigations) that legally belong to individual unit owners and/or their property managers, per the Wafco Mills Governing Documents and the North Carolina Condominium Act §47C-3-107 (which makes unit owners responsible for the maintenance and repair of their units, while the association is only responsible for the common elements).
Complies with our Wafco Mills governing documents and the North Carolina Condominium Act (Chapter 47C), and
Keeps our budget predictable so we can avoid unnecessary special assessments in the future.
We are currently negotiating these points with Red Rock and will not sign until the contract language clearly matches what was presented and what aligns with our legal responsibilities under state law and our governing documents.
We’ll keep you updated as this process continues and will present the final agreement for Board approval. Please review the comparison chart so you can see exactly what has changed between the quote, the proposal, the Zoom conversation, and the contract.
Thank you all for your patience and support as we work to protect Wafco’s financial health and ensure a strong, clear management agreement moving forward.
Warmly,
Joy Watson
President, Wafco Mills Condominium Association
| Topic | Original Quote | Updated Proposal (Aug 25, 2025) | Written Contract | Craig’s Zoom Meeting |
|---|---|---|---|---|
| Monthly Fee | ≈ $1,200/mo ($14.4K–15K annually); presented as flat, no itemization. | $1,450.36/mo ($17,404.28 annually), itemized by service. | $1,450.36/mo, itemized (Section 23). | Confirmed $1,450.36 flat monthly fee. |
| Setup Fee | Not mentioned. | Not mentioned. | One-time setup = one month’s management fee ($1,450.36). | Not discussed. |
| Termination | “At-will”; cancel anytime. | “At-will” emphasized. | 60 days’ notice plus one month’s fee termination penalty. | Described as “at-will.” |
| Annual Increases (CPI) | Not mentioned. | Not specified. | Automatic annual increase tied to CPI. | Not addressed. |
| Reimbursables / Extras | Marketed as flat fee; “no nickel-and-dime.” | Same message. | Allows extras: postage, audits, tax prep, legal coordination, mail-house, transition prep, etc. | $2 per welcome letter; said a la carte fee list would follow. |
| Beyond Scope / Hourly | Not mentioned. | Not mentioned. | $75/hr for “beyond scope” (e.g., records research, leak investigations, construction oversight). | Stop leaks; determine source; bill owners if HOA responsibility is established (not presented as $75/hr to HOA). |
| Leak Protocol Key | Not specified. | Not specified. | Open-ended; HOA could be billed if leak investigation is treated as “beyond scope.” | Confirmed: owners handle stacked-unit leak investigations; HOA only if a common element (roof/gutters/structure) is proven at fault. No walk-throughs; drive-through only. |
| Inspections | Limited/optional. | 12 inspections included. | 12 “on-site violation inspections” annually. | No walk-throughs (safety); drive-through inspections only. |
| Meetings | Some included; extras billed separately. | 4 virtual Board + 1 annual meeting included. | Matches proposal (4 virtual + 1 annual). | Confirmed same. |
| Tenant Compliance Fees | Not mentioned. | Not mentioned. | Not listed. | Agreed: $50 fee for rulebooks if landlords fail to provide them to tenants. |
| Indemnification | Not mentioned. | Not mentioned. | Broad: HOA indemnifies manager unless manager is proven negligent. | Not discussed. |
| Financial Reporting | Standard monthly implied. | Real-time Board access + monthly reporting promised. | Monthly statements due by the 25th (incl. bank statements). | Confirmed they can provide for November annual meeting. |
Why this matters: This comparison helps ensure the final agreement matches both the representations made and our legal framework. It protects the HOA from absorbing owner responsibilities (e.g., interior leak investigations) that belong to unit owners or their property managers under the Wafco Mills Governing Documents and the North Carolina Condominium Act, including §47C-3-107 (owner maintenance vs. common elements) and §47C-3-118 (financial records and reporting). We’ll finalize only when the contract language aligns with these requirements and applicable NC real estate/condominium laws.
