What is an association management company and what do they do?

An association management company, such as Castle Breckenridge Management, is contracted by the board of directors to provide such services as: collection of assessments, supervision of subcontractors, obtaining bids for subcontracted services, providing financial statements, and collection reports. The management company consults with and advises the board of directors, and enforces the policies and decisions made by the board of directors. The management company reports directly to the board and all decisions are made by a majority vote of the board of directors.