Hammersmith Management said Monday it will take over the management contracts for 20 homeowners associations in Highlands Ranch this month.
The 20 subassociations, representing 4,500 homes and condos, operate under the umbrella of the Master Highlands Ranch Community. Hammersmith is acquiring the entity that managed those smaller HOAs, the Highlands Ranch Community Association (HRCA).
“Highlands Ranch is a gigantic entity. We only purchased the subassociations,” said Anne Williams, president of Hammersmith.
The master association will continue to manage the commercial facilities and recreation centers at Highlands Ranch. Hammersmith already managed two of the larger HOAs at Highlands Ranch. The remaining 14 HOAs not coming over already contract with other community management firms.
Smaller and self-managed community associations have struggled to comply with new state HOA manager licensing rules implemented last year, accelerating a trend that has seen more communities turning to outside managers.
Williams noted there are 600 licensed community managers in the state and 8,000 HOAs. Larger management firms, with their economies of scale and ability to get employees licensed, have an advantage, she said.
Denver-based Hammersmith, in business for 35 years, is the state’s second-largest community manager with 252 HOAs and more than 285 employees. It will bring on four licensed community managers and an administrator from HRCA.
