The Waterwood Townhomes Board of Directors is announcing an upcoming transition in our association management. Equity Real Estate Property Management (EQRE) recently issued a notice of resignation. To ensure all residents and owners have accurate information, the Board is providing the full context, current challenges, and our clear path forward.
Why Management is Changing
In March, the Board initiated a proactive search for alternative management options to better serve the long-term needs of our community. We interviewed three qualified companies: Berkshire Hathaway, Howdy MGMT, and Beal MGMT. Following comprehensive presentations, the Board voted to officially engage Beal MGMT as our new management partner.
Unfortunately, information regarding our management search leaked back to Equity before a formal joint announcement could be made, resulting in their abrupt resignation notice directly to owners.
Current Transition Status & Challenges
We are working diligently to ensure a secure transition, but several recent actions by Equity mean this process will require significant manual effort from the Board and our new team:
- Transition Timeline: Equity originally provided only 12 days to transition (effective May 31st) but has since extended their departure date to the end of June.
- Website Changes: Equity initially took down the previous community website (waterwoodtownhomes.net), claiming it and the associated digital tools as their proprietary property.
- Data Format: Although Equity has provided some records electronically, including PDFs and other digital files, the Board has been advised that certain operational records, including owner information and account ledgers, will not be transferred electronically. This will require additional manual effort by incoming management and the Board during the transition process.
- External Communications: Equity has also distributed their resignation notice to external management companies and local real estate agents.
While these complications are unfortunate, they have reinforced the Board’s belief that transitioning to a management company more closely aligned with our goals for communication, transparency, and modernization is in Waterwood’s best interest.
Moving Forward with Beal MGMT
The Good News: Beal MGMT has stepped up immediately to assist us. They are prepared to accept the physical records from Equity and manually onboard all residents into their digital systems.
Additionally, the Board has already secured our new domain name—waterwoodtownhomes.com—and we will have a professional, modern community site and secure owner portal up and running soon.
There will undoubtedly be a few logistical bumps during this transition month, but the Board is completely committed to smoothing out every wrinkle we can.
How You Can Help (Call for Volunteers & Communications)
Because onboarding 170 owner ledgers from paper files is highly labor-intensive, we need the community’s help in two specific ways:
- Spread the Word: We are currently rebuilding a complete, independent community communication tree. Please share this update and these details with any neighboring Waterwood owners you know to ensure no one is left out of the loop.
- Volunteer Your Time: If you have spare time or professional expertise—particularly in data entry, administrative organization, or community communications—and would like to volunteer during this transition, your help would be incredibly valuable.
To volunteer, share contact details for the communication tree, or ask questions, please contact the Board directly at hoaboard@waterwoodtownhomes.com.
Formal instructions from Beal MGMT regarding where to send future dues and how to log into the new system will be posted here and mailed as soon as those details are finalized.