The management of condominium complexes can vary significantly based on the size of the building and its financial considerations.
In smaller complexes, typically those with fewer than 20 units, management is often handled directly by a single owner, usually due to limited financial resources and the simplicity of the operation. This owner assumes responsibility for the day-to-day operations and maintenance of the property.
In contrast, larger complexes often require more structured management due to their size and complexity. These buildings typically engage professional management companies to handle various aspects of property management, including maintenance, financial administration, and coordination of services. This approach ensures that the needs of the complex are met efficiently and effectively.
Additionally, construction companies that develop new condominium complexes often manage the property for a few years after construction is completed. This interim management allows the developer to oversee the transition period and address any initial issues that arise before the responsibility is transferred to a homeowner association or a professional management company.
Overall, the choice between self-management and hiring a management company depends on the size of the complex, its financial capacity, and the specific needs of the building.
