EL CAJON, CA — La Alameda HOA had a problem: their net cash balance during the six months between August 2008 and January 2009 was negative $1,441, a loss. Occupancy was at a record low, and the previous management company was unable to collect enough HOA dues to build up cash reserves.
Cash Flow
When Pacifica took over management of the HOA, the cash reserves were at -$1,441. At the end of April 2009, after only three months of managing the property, Pacifica was able to raise the reserves amount to $29,065.
Collections
During the six months between August 2008 and January 2009, the previous management company collected $26,145 in HOA fees. In only three months, from February through April 2009, Pacifica collected $46,467.