How Does a Condo Work? (Ownership, Fees & Rules Explained!)

What is the difference between a condo board vs. management company?

Both play an important role in the daily operations of a condo building. However, they are two distinct groups that have very different responsibilities.

From setting bylaws to collecting fees, the condo board and management company work together to keep a condo building running like a well-oiled machine.

Watch until the end of the idea to learn all about how a condo operates and the difference between a board vs management company.

Tags: condo, condominium, buying a condo, what is a condo, how does a condo work, how does a condo operate, condo board, management company, condo association management, condominium management, condominium management companies, condo property management, owning a condo, living in a condo, Undivided Real Estate

This video provides general information about real estate and is not professional advice. Consult with a qualified professional before making any decisions. The creator is not liable for errors, omissions, or outcomes based on the information presented. Compensation may be received for featuring products or services, but it does not influence the content. Viewers agree to seek personalized advice before making any real estate transactions.

Chapters
00:00 - 01:32 - What is a Condo?
01:33 - 02:18 - Condo Board Duties
02:19 - 02:54 - Management Company Duties
02:55 - 04:13 - How They Work Together

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Meet Micky, a top New York City real estate broker on a relentless journey to educate and advise buyers and sellers on how to turn their dreams into an NYC address. He leads Undivided on a mission to curate the most coveted luxury new build condominiums, eco-friendly buildings, and modern homes in Manhattan and Brooklyn.

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