C.K. from New York City writes:
Dear Mister Condo,
Can one condo building have two different management firms? One third of the condos are owned by one person. Can there be two different managers?
Mister Condo replies:
C.K., I don’t see why not. The obvious question is how many associations are there in each building? If the entire building is just one big association, there may be no need for multiple management firms. If there are different associations occupying various floors (i.e. – Floors 1-20 make up the Huntington Association while Floors 21-40 make up the Manhattan Association), it would not be uncommon for each association to have its own management company. The ownership of 1/3 of the condos by one person shouldn’t have any effect on the management although it would indicate a large number of rental units, again not uncommon in large city associations. It is possible that a unit owner with that many units also employs a management firm to keep an eye on his investment. That firm would only have duties relating to the tenancy of the investor-owned units. Hope that helps. All the best!