FAQ — Wood Property Management

Question 1

How do I know if my HOA needs a property management company?

Accepted Answer

If your board is spending more time managing vendors, chasing dues, or handling homeowner complaints than making strategic decisions for your community — it's time. Signs include delinquent assessments piling up, maintenance requests falling through the cracks, or board members burning out. We offer a free consultation to assess your community's needs with no obligation.

Question 2

What types of communities do you manage?

Accepted Answer

We specialize in neighborhood HOAs, condominium associations, townhome communities, and duplexes throughout the Greater Madison, WI area. Whether your community has 10 units or 200, we tailor our services to fit your size and budget.

Question 3

How long does it take to transition to Wood Property Management?

Accepted Answer

Most transitions are completed within 30–60 days. We handle the heavy lifting — collecting existing records, notifying homeowners, setting up financial accounts, and onboarding vendors — so your board experiences minimal disruption.

Question 4

Do you require long-term contracts?

Accepted Answer

We believe in earning your business every month. Our agreements are straightforward and designed to be fair to both parties. We'll walk you through all terms during your free proposal consultation.

Question 5

What services are included in your management fee?

Accepted Answer

Our management fee covers day-to-day operations including homeowner communication, dues collection, vendor coordination, maintenance oversight, monthly financial reporting, board meeting support, and 24-hour emergency response. We believe in transparent, all-inclusive pricing — no surprise add-ons.

Question 6

Are there any hidden fees?

Accepted Answer

No. We are committed to transparent pricing. Before signing, you'll receive a clear breakdown of every fee. We don't charge per-call fees or per-letter fees.

Question 7

Do you handle maintenance and repairs?

Accepted Answer

Yes. We coordinate all maintenance requests, work with our trusted vendor network to get competitive bids, and oversee the quality of work completed. For emergencies, we have a 24-hour response line. Homeowners can submit requests through our resident portal.

Question 8

Can you help our community with delinquent dues collection?

Accepted Answer

Absolutely. Consistent dues collection is one of the most important things a management company does. We send timely notices, follow a clear collections process, and work with your association's attorney when necessary — all while maintaining professional relationships with homeowners.

Question 9

How do you handle our community's finances?

Accepted Answer

We maintain separate trust accounts for each community we manage. Our CPA, Bonnie Krattiger, oversees all financial reporting. Boards receive monthly financial statements including income/expense reports, balance sheets, and delinquency reports. We also assist with annual budget preparation and reserve fund planning.

Question 10

Can board members access financial records at any time?

Accepted Answer

Yes. Board members have access to financial reports through our management portal. We believe in full transparency — your community's finances are always visible to authorized board members.

Question 11

Do you assist with annual budget preparation?

Accepted Answer

Yes. We work with your board each year to prepare a realistic operating budget and review reserve fund adequacy. Our goal is to help your community maintain financial health without unnecessary special assessments.

Question 12

How quickly do you respond to homeowner inquiries?

Accepted Answer

We guarantee a response within 24 business hours for all standard inquiries. For maintenance emergencies, we have a dedicated after-hours line with immediate response. Homeowners and board members are never left waiting without acknowledgment.

Question 13

Will we have a dedicated property manager?

Accepted Answer

Yes. Every community is assigned a dedicated property manager who learns your community's unique needs, history, and preferences. You'll always know who to call — and they'll know your community.

Question 14

Do you attend board meetings?

Accepted Answer

Yes. Your property manager attends board meetings to provide management reports, answer questions, and help facilitate productive discussions. We also assist with meeting preparation, agenda creation, and minutes documentation.

Question 15

How do homeowners submit maintenance requests?

Accepted Answer

Homeowners can submit maintenance requests through our online resident portal, by email, or by phone. All requests are tracked and homeowners receive status updates as work progresses.

Question 16

What are developer transition services for HOAs?

Accepted Answer

Developer transition services cover everything needed to hand a new community from developer control to homeowner governance. This includes establishing the HOA's legal and financial foundation before the first home closes, onboarding vendors, creating the initial operating budget, organizing governing documents, and ultimately facilitating the election of the first homeowner board. Wood Property Management handles this entire process so developers can close homes with confidence and move on to their next project.

Question 17

Why should a developer hire a management company before the first homeowner closes?

Accepted Answer

Getting management in place before the first close protects you legally and financially. An underfunded reserve, missing governing documents, or an improperly structured HOA can expose developers to homeowner lawsuits and regulatory issues long after the last home sells. Starting with professional management ensures assessments are set correctly, vendors are contracted, and the association is compliant from day one — which also improves buyer satisfaction and reduces negative reviews.

Question 18

How early in the development process should we engage Wood Property Management?

Accepted Answer

Ideally, 60–90 days before your first anticipated closing. This gives us time to review your governing documents, build the initial operating budget, procure and onboard vendors, and set up the financial accounts and homeowner portal before any residents move in. The earlier we're involved, the smoother the transition.

Question 19

What does the initial HOA budget creation process look like?

Accepted Answer

We build your community's first operating budget from the ground up — analyzing projected common area maintenance costs, insurance, utilities, administrative expenses, and reserve fund contributions. We present the budget to your team for review and help you set an assessment level that is realistic, legally defensible, and fair to homeowners. A properly funded budget from the start prevents the need for special assessments or fee increases in year one.

Question 20

How do you handle vendor procurement for a new community?

Accepted Answer

We solicit competitive bids from our vetted local vendor network for all essential services — landscaping, snow removal, common area maintenance, insurance, and any community-specific needs. We review contracts, collect insurance certificates, and establish service schedules before the first homeowner moves in. All vendor relationships are set up in the association's name, not ours, so they transfer cleanly if management ever changes.

Question 21

What is included in the homeowner welcome packet?

Accepted Answer

Each new homeowner receives a professionally prepared welcome packet that includes a summary of the community's governing documents and rules, payment instructions and portal access, maintenance request procedures, contact information for the management team, and key community information like trash schedules and common area policies. We also offer new homeowner orientation meetings to answer questions and set expectations early.

Question 22

How does the first homeowner board election work?

Accepted Answer

The transition from developer control to homeowner governance is a legal milestone governed by your community's bylaws and Wisconsin HOA law. We manage the entire election process — preparing the required notices, ballots, and meeting materials, facilitating the election meeting, tabulating votes, and documenting the results. After the election, we conduct a board orientation to help new members understand their roles and responsibilities.

Question 23

What does the one-year post-turnover management program include?

Accepted Answer

Our post-turnover program provides full-service HOA management for the first 12 months after the homeowner board takes control. This includes monthly financial reporting, board meeting attendance and facilitation, vendor management, maintenance coordination, homeowner communication, and ongoing board education. The first year is when new boards need the most support — we're there every step of the way.

Question 24

Do you work with developers outside of Sun Prairie and Madison?

Accepted Answer

Yes. We serve communities throughout Greater Madison and Dane County, including Sun Prairie, Madison, Middleton, Fitchburg, Verona, DeForest, Cottage Grove, and surrounding areas. If you're developing a community in the region, reach out and we'll let you know if we can serve your project.

Question 25

Are you locally owned and operated?

Accepted Answer

Yes. Wood Property Management is locally owned and operated out of Sun Prairie, WI. We are proud members of the Sun Prairie Area Chamber of Commerce. We live and work in the same communities we manage — that local accountability matters to us.

Question 26

What areas do you serve?

Accepted Answer

We serve communities throughout the Greater Madison area including Sun Prairie, Madison, Middleton, Fitchburg, Verona, DeForest, and surrounding communities in Dane County.

Question 27

How is Wood Property Management different from larger corporate firms?

Accepted Answer

With a large corporate firm, your community is one of hundreds — you get a call center, not a partner. With us, you get a dedicated local team that knows your community by name, responds personally, and is invested in your neighborhood's long-term success. We're small enough to care and experienced enough to deliver.

Frequently Asked Questions

Getting Started

Services & Fees

Financial Management

Communication & Support

Developer Services

Local & Community

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