Management companies manage the common property and services of condominiums, cooperatives, and planned communities through their homeowners' or community associations.

Management companies collect monthly assessments, prepare financial statements and budgets, negotiate with contractors, and help to resolve complaints.  Hired by the volunteer board of directors of the association, they administer the daily affairs, and oversee the maintenance of property and facilities that the homeowners own and use jointly through the association. They also assist the board and owners in complying with association and government rules and regulations.

In addition to administering the associations' financial records and budget, managers may be responsible for the operation of community pools, golf courses, and community centers, and for the maintenance of landscaping and parking areas. Community association managers also may meet with the elected boards of directors to discuss and resolve legal issues or disputes that may affect the owners, as well as to review any proposed changes or improvements by homeowners to their properties, to make sure that they comply with community guidelines.

Professional management can offer a common thread that links one administration to the next.