The condominium's board of directors must oversee the supervision of service providers and tracking of expenses. Keeping contact information for all members of the condominium association and clearly communicating with those members is also required.
Typically, in condos, the association's board of directors hires a qualified individual to manage day-to-day operations. Being well-versed in state laws and insurance matters assists in the management of the property. In some states, a real estate broker's license is required to run a condominium. All states require the association manager have a property management license.
Condo Management Must Govern by State Condominium Laws
The condominium association should provide the manager with a copy of the locality's condominium legislation from the legislative branch of the state's government. This sets the basis for how to legally run the property. Appoint a board member to contact the local town or city hall to obtain a copy, recommends the MassLegalHelp.org article titled, "Protection for Tenants Under the State Condo Law." Check state online sites. Sites such as Mass.gov include property management information on their official websites.
