Condominium and cooperative management companies are plentiful in Chicago. And since there are hundreds of management companies vying for your attention and your business across Chicagoland, 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. Between 15 and 25 percent of common interest communities—co-ops and condos, respectively—are self-managed and don’t employ an on-site 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 broader, offering everything from day-to-day administration to maintenance services and capital project management. Still, others focus on bigger building complexes, which inevitably need more services than smaller communities.