Condominium and cooperative management companies are a dime a dozen in New York City.
And since there are thousands of management companies vying for your attention and your business in the Big Apple, it can be tough for them to set themselves apart from their competitors.
Hiring a Manager or Self-Managed?
According to the Community Associations Institute (CAI), a nationwide organization providing information, education and resources to community associations, there are about 60,000 community association managers nationwide, and there are 10,000 community association management companies. Only 15 or 25 percent of common interest communities—co-ops and condos—are self-managed and don’t employ an onsite manager or management company.
Therefore, it takes a lot for a management company to stand out in the crowd.
Some attempt to do so by marketing themselves as 'boutique' firms specializing in a certain type of building or level of service; others go broad, offering everything from day-to-day administration to capital project management. Still others focus on bigger building complexes, which inevitably need more services than smaller communities.