Can the homeowners association employ a management company to assist in managing my condo or townhouse complex?
Yes, and this is very common. A homeowners’ association, through its executive board, will often employ a management company to take care of maintenance, collect dues and assessments, and carry out other day-to-day responsibilities of the homeowners’ association. The members of the executive board and the staff of management companies are NOT required to be licensed by the N.C. Real Estate Commission or any other state agency so long as their management activities do not involve the sale or rental of units. However, licensed real estate brokers who manage homeowners’ associations must adhere to the N.C. Real Estate License Law and related rules. This includes keeping the collected funds of others in a trust account, and maintaining records of all collections and disbursement of these funds.
