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The responsibilities of building management include building maintenance, regulatory compliance monitoring, procuring and maintaining insurance policies and registrations, collecting maintenance and paying bills, handling owner complaints and maintaining books and records.

Arguably the most important responsibility of a managing agent is to field multiple, competitive quotes for large building repairs such as elevator upgrades, roof or boiler replacement and facade work. How well your managing agent can control costs is even more important if you live in a small condo or co-op building since there are fewer owners to foot the repair bills.

Building Maintenance, Repairs and Alterations

The most visible responsibility of a managing agent is to cause the interior and exterior of a building to be properly maintained and cleaned. A building manager accomplishes this task by hiring and supervising all persons necessary for the efficient operation and maintenance of the property.

Important ongoing hires by the managing agent include a super, exterminator and an elevator servicing company. A good building manager will come to physically inspect the property at least once a month. In reality, many subpar management companies in NYC will ‘manage by crisis’ and simply rely on the complaints of owners or the super for identifying issues which need attention.

Regulatory Compliance Monitoring

Co-op and condo building managers also monitor whether or not their properties are in compliance with all building codes, environmental laws, other local ordinances, and deed restrictions.

Insurance Policies, Permits and Registrations

Your building management is also tasked with procuring and maintaining insurance policies in addition to filing and renewing any required licenses, permits and registrations.

These tasks include maintaining DOB registrations for boilers and elevators in addition to facilitating DOB boiler, elevator and facade inspections.

A good building manager will proactively review your insurance coverage from time to time to make sure it’s competitively priced and provides adequate coverage as desired by the condo or co-op board.

Collect Maintenance and Pay Bills

A managing agent is also typically responsible for collecting monthly condo common charges (or co-op maintenance fees) from unit owners. This responsibility also includes initiating legal proceedings or taking other necessary action to collect delinquent charges.

In addition, building management verifies and pays bills received for services, work and supplies ordered in connection with the maintenance and operation of the building. A good managing agent will also provide the building with regular monthly statements which indicate all collections and disbursements.

Complaint Management

A more sordid responsibility of a condo or co-op managing agent is to manage complaints from apartment owners.

Examples of such complains include: maintenance issues, unreasonable noise from neighbors, unit owners leaving personal possessions in the hallways, illegal AirBNB, commercial use of residential apartments, after-hours construction and safety hazards.

Maintain Books and Records

Managing agents are also tasked with maintaining a complete set of books and records and other documents pertaining to the maintenance and operation of the Property. These records may include the history of repairs, complaints and how they were handled, paid invoices as well as inspection and registration records.

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