Much like HOA management companies, condo management companies oversee the day-to-day operations and maintenance of condominium complexes. Key responsibilities often include financial tasks, such as collecting condo fees or assessments from unit owners, maintaining financial records, creating budgets, paying bills, and preparing financial reports for the condo board.
They also oversee landscaping, cleaning common areas, maintaining the building’s exterior, and arranging for repairs when needed. Administrative support is another key responsibility. This can involve scheduling and organizing board meetings, keeping records of meeting minutes and resolutions, and assisting with communication between the board and unit owners.
They also help enforce the rules and regulations set forth by the condominium association. This can include ensuring that residents adhere to community guidelines regarding noise, parking, pet policies, etc. Crucially, a condo management company also coordinates with contractors, vendors, and service providers for maintenance, repairs, and other services needed within the condominium complex.
Overall, a condo management company plays a critical role in ensuring the smooth operation and maintenance of a condominium complex, providing essential services to both the condominium association and its residents.