Managing Agent vs Condo Board - What’s the Difference?

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In this tutorial video, we'll go over two important parties critical for the management of a condo apartment building, the managing agent and the condo board. We'll explain what these of these terms mean, and the difference between the two and what their respective responsibilities are.

The managing agent, often called the building management company, is hired by the condo board to manage the building on its behalf, and to take many actions on its behalf. The managing agent will run the building and its staff on a day-to-day basis, including everything from payroll to collection of common charges.

The condo board on the other hand is a board of directors, elected by owners of the building, who have ultimate power in the running of the building. The managing agent answers to the condo board, and should be obedient and loyal to the condo board as a fiduciary agent.

Since condo board seats are volunteer, unpaid positions, the quality of the condo board can really vary building by building. Often times, it's better to be in a bigger building where there is a wider pool of potential candidates. In smaller buildings, you can sometimes run into the issue of not having enough potential candidates, or candidates who have the time or dedication to put in enough volunteer hours for the position. Of course, on the flip side smaller buildings may see better condo boards because each owner is more invested in the well-being of the building.

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Hauseit Group LLC, Licensed Real Estate Broker
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