Cost
A management company charges roughly $10 to $30 per unit per month, plus extras. Self-management removes the fee but adds bookkeeping, software and slightly higher insurance attention. For a twenty-unit building the net saving is typically $3,000 to $6,000 a year — meaningful, and usually best redirected to reserves rather than to lower dues.
Workload
- Self-managed: 3 to 6 board hours a month in a quiet year, far more around the budget, the annual meeting, or a major repair.
- Managed: 1 to 2 board hours a month, plus the time spent managing the manager, which boards consistently underestimate.
Risk and expertise
A good manager brings statutory knowledge, vendor relationships and a process that survives board turnover. A self-managed board brings owners who care about the building and answer the same day. The risk profile differs: managed associations fail through disengagement, self-managed ones through inexperience and burnout.
Continuity
This is the deciding factor more often than cost. A management company keeps the records when the board changes. A self-managed association only does if it deliberately keeps records in a shared system rather than in one owner's head and inbox.
How to choose
- Under 15 units, no staff, no major project: self-management is usually right.
- 15 to 40 units with a stable board and shared systems: self-management works well.
- Employees, litigation, heavy delinquency, or a large capital project: hire a manager, at least for the duration.
- Undecided: a hybrid — self-manage day to day, buy in bookkeeping and project management for the big items.
Questions fréquentes
Can we switch back if self-management does not work?
Yes, and a clean records trail is what makes it painless. Associations that keep documents, ledgers and decisions in a shared system can hand over to a manager in days.
What should we ask a management company before signing?
The full fee schedule including extras, the notice period, how many units each manager handles, who owns the records, and what happens to them on termination.
Is a hybrid model common?
Increasingly. Many small associations self-manage communications, issues and meetings while paying an accountant for the books and a project manager for capital works.