Property managers play a crucial role in assisting and educating board members on capital improvement best practices. Unfortunately, the learning curve is steep, becoming even steeper when dealing with board members who are either inexperienced or corrupt. When a property management company is willing to drive accountability, they can successfully steer boards away from unethical conduct they may either knowingly or unknowingly commit.
Condo communities are often at the mercy of the board, which governs regulations and policies, and the property management companies who carry out the orders of the day. Collectively their job is to ensure the owners’ right to quiet enjoyment while also considering the type of lifestyle the condo community provides. When the two parties fail to manage the property effectively, its value, amenities, social aspects, and the residents’ lifestyle is negatively impacted.