Our Condo Association Board of Directors has repeatedly decided that the condo association is better off with an onsite property manager and a combination bookkeeper/secretary. The office is open 40 hours/week during a regular week. This year, onsite property management is going to cost in excess of $100,000. We have 100 condo units, consisting of duplexes and triplexes on roughly 32 acres of land. All are ground floor units.
I have talked to several local condo associations about their costs, and they find it hard to believe we would waste this much money on a property management system. If possible, I would like to hear what other condo associations are budgeting for their management systems. How much should it cost for effective management of a condo association?