Problem page
Help for self-managed condo associations in Massachusetts
A self-managed condominium association of six to twenty-four units usually needs a manager when the treasurer is the only person who understands the books, reserves have not kept up with the building, a 6(d) request held up a sale, or the same trustee has done everything for years and wants out. Professional management for an association that size costs from $50 per unit per month with Copper Bottom, and the board keeps every decision that matters.
Signs a self-managed board needs help
- The budget is last year's numbers plus a percentage.
- Nobody can say what the reserve balance is for, or the reserve is the operating account.
- Late dues are not chased because the treasurer lives next door to the owner who is behind.
- A 6(d) certificate or lender questionnaire took weeks and a closing was delayed.
- Insurance renewed on autopilot and nobody has read the policy.
- Vendor contracts for snow and landscaping have not been bid in years.
- The roof conversation keeps getting postponed.
- Trustees are doing it from their phones, at night, for free, and would like to stop.
What a manager does for a small association
- Collects dues online and sends the late notices so a neighbor does not have to.
- Prepares the annual budget with the board and posts monthly financials every trustee can read.
- Manages vendors, bids the contracts and handles repair calls with an in-house maintenance team.
- Answers 6(d) and questionnaire requests from a current ledger, in two business days.
- Keeps the records so the next board inherits a file, not a shoebox.
- Plans the roof, the decks and the mechanicals before they become a special assessment.
What the board keeps
Everything that matters: the budget, spending above the limit in the agreement, contractor selection on capital projects, rules and policy. We carry out the decisions and report back monthly.
What it costs
From $50 per unit per month, varying with the building. For a twelve-unit association that is from $600 a month, and the board sees every other fee on the pricing page and in the agreement before it votes. Agreements renew yearly and can be ended with 30 days' written notice.
Questions
Is our association too small for a management company?
Many firms will not take associations under 25 or 50 units. We take associations of six units and up, and six to twenty-four unit buildings are the core of our work.
Can we start with just the bookkeeping?
Call and tell us what the board needs. We will say honestly whether full management, a smaller scope or simply a bookkeeper and an attorney is the right answer for your building.
Do we lose control of the association's money?
No. The money stays in the association's own bank accounts, with the bank statements posted monthly, and the trustees remain in charge of the budget and spending limits.