Associa Mexico Helps Re-Structure Financials for Master-Planned Community
This 850+-unit master-planned community is located in Loreto, Mexico. Managed by Associa Mexico since 2010, the community consists of 14 sub-associations and features a wide range of amenities, including a pool, jacuzzi, golf course, gym, and restaurants.
Each sub-association in this community had its own rules, regulations, and unique issues. There were many maintenance problems, and the community’s overall lack of structure, services, transparency, funds, and legal and safety protocols made resolving them difficult.
Associa Mexico hired a new on-site manager with extensive luxury community, industry, and operations experience upon partnering with the community. With help from the Associa accounting team and the billings and collections department, the new community manager worked with the board to rebuild the master association’s financials and recover over $1 million with a new delinquent account management system. The new community manager also worked with homeowners to build up a reserve fund and provide payment plan options so necessary common area maintenance could be performed. Thanks to Associa Mexico’s support, this community got back on track and continues to thrive today.