Monday, October 4, 2010

What Does a Condo Management Company Do?

By Jim Digre

When the typical condo owner who's never been on the Board thinks about what their management company does, the first thing that usually comes to mind is landscaping and cleaning of the building. This isn't something that should come as a surprise since all they really see is the building grounds and common areas. What they don't realize is that their management company may not be directly involved in the maintenance of the building other than contracting for the crew that does the work. Of course, a good management company will do regular inspections of the property, part of which is to observe how well the maintenance crew is doing its job. They then will report to the Board on what they have observed and may offer corrective suggestions.

Actually, the real purpose of a management company is to relieve the Board Members of the burden of day to day management of the association. The operation of a condominium association, especially in a large complex or building, can be incredibly demanding. Between budgeting, bill paying, inspections, contracting of services, dispute resolution, assessment collection, banking, financial reporting and tax filings, most condo board members who hold full time jobs are rapidly overwhelmed by the scope of the task.

Hiring the right management company enables the Board Members to function solely as decision makers and then rely on the property manager to insure that those decisions are properly carried out. In addition, since most Board Members are not well experienced with what it takes to run a corporation (which is what an association is), an experienced management group is invaluable in providing advice on what to do in any given situation that may arise.

Proper management of your association goes a long way towards maintaining not only the value of the property but insures that you have a viable association that runs smoothly and effectively. Most people who live in a condominium do so because they want to own property but don't want all the hassles associated with home ownership. Effective management is what makes that a reality.

Dowling Properties has been in business for over 25 years and is one of the oldest property management companies in the near-west suburbs, We have a dedicated staff that would be proud to serve your association in a professional, responsive and pro-active manner. We can help any association function at its best. You can contact us by phone at 708-771-0880 or by e-mail at: customerservice@dowlingproperties,com and we would be happy to provide a no-obligation proposal and quote for our services.

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