A condominium owners’ association (COA) is created when a real estate object is divided into smaller, self-contained units which are treated as separately owned property. Normally the scenario is a building being divided into condominium apartments.

From the point of view of the manager, the condominium owners' association is an owner of managed property. Since the association is a legal person, it is jointly and severally liable, and also can place legal demands on the manager. In this regard, the association is no different than a “normal” owner.

Unlike a “normal” owner, however, the association has an internal relationship from itself as a whole to the individual members making up the association: the association has a legal expectations of its members and the members in turn have the same with regard to the association.

The condominium owners’ association, as a legal person, is represented by natural persons (usually the condominium board). The association is the contractual partner of the real estate manager and is liable for the costs of ownership and management.

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Services

• Schedule and attend board meetings

• Provide monthly management reports

• Uniformly enforce the rules and regulations of the community

• Respond to homeowner inquiries in a timely manner

• Getting bids and proposals from vendors

• Prepare an annual budget

• Maintain positive vendor connections

• Be a well-rounded resource for the association’s challenges

• Help find good leaders, this is a one-of-a-kind management strategy

• Provide long-term success for the building and its occupants