Should our new condo association hire a property manager and/or attorney?

Answer:

A good management company can aid the association by recommending vendors, helping plan the annual budget, attracting and interacting with new owners, and handling numerous day-to-day tasks. The following represents some of these tasks, which, if not delegated to a property manager, the association will have to tackle:

  • Maintain security of the condominium
  • Collect monthly fees and maintain records
  • Prepare and maintain all association correspondence, minutes, and records
  • Enforce rules and regulations as direct by the association
  • Manage any rentals of condominium common areas
  • Provide escrow information when homes are sold
  • Identify, coordinate, and record maintenance work

Obtaining legal representation also has many benefits for an association. An attorney with experience in condominium law can review contracts with vendors; evaluate potential breaches of the association’s governing documents by owners; take collection actions, as needed, against owners failing to pay condominium fees; and help review the developer’s work to determine whether there might be liability. Early coordination with professional management as well as legal counsel will help the unit owner-controlled association ensure a smooth transition and set its more long-term plans and goals.