I own an investment condo in a small building. I lucked out since our core board members are myself (a tradesman) and another lady who is an accountant. She handles the finances, regularly calling out discrepancies in the property management company’s accounting and I look over the quotes for repairs etc. Neither of us live in the building, we just see board membership as protecting our investment.
Most property managers have way too many properties to do a good job managing any of them. A good board will make or break your building. I’d never own a condo without being on the board. It’s a relatively minor commitment, attending 8-9 meetings a year and answering emails once a week.
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