Condo Unit Management

Condo unit management is the management of individual condominium units on behalf of the owner when the unit is rented by a tenant.

Our property management company specializes in providing tailored services for condominium owners who need a reliable local manager. We handle rent collection, payment of common charges, enforcement of house rules, and ensure full compliance local regulations.

As the primary point of contact for tenants, we manage all maintenance requests, address inquiries 24/7, and coordinate with on-site building management company. Our services are essential for investors looking to delegate the daily responsibilities to a professional property manager. Our condo unit management service offers a practical and affordable solution to investors that own one or more condo units that require professional management.

Our Condo Unit Management Services

Availability 24/7 to respond to tenant inquiries
Online tracking of all maintenance issues with tenant follow up
Online automated ACH rent payment system
Online tenant portal for payments and submitting work orders
Comprehensive marketing and leasing services
Use of advanced research tools to properly price each rental unit
Application processing and credit check screening
Condo Board Package preparation and submission
Turnover painting and repair coordination
Tenant security deposit management
Coordination with building staff
HVAC service scheduling
Ability to mobilize quickly to respond to emergencies
Regular unit inspection service
Monthly financial reports
Coordination of Tax and Legal Services
Alterations Agreement submissions as required by the Condominium
Obtain insurance certificates for all vendors entering unit for repairs
Coordinate obtaining condo unit liability insurance and umbrella coverage
Provide tenant renters insurance policy online
Send lease renewals to each tenant
Payment of mortgage and taxes

We Provide Specialized Management for Individual Condo Unit Investors

What Is Condominium Unit Management?

Condominium Unit Management is a specialized form of property management focused exclusively on the ownership, leasing, and operation of individual condominium units, rather than the management of the condominium building as a whole.

Unlike building-wide management—where a managing agent oversees common areas, staff, capital improvements, and building operations on behalf of the condominium association—condo unit management represents the interests of the individual owner or investor. As condominium investing has grown in New York City and Miami, the complexity of managing rental condo units has increased significantly.

Each building has its own approval process, leasing restrictions, documentation requirements, fees, and compliance standards. Condominium Unit Management exists to navigate these complexities on behalf of owners while maximizing return and minimizing friction.

Krieger Real Estate is widely regarded as a pioneer in this management niche, delivering one of the most comprehensive and detail-driven condo unit management platforms in the market.

Investing in Individual Condo Units: A Flexible Portfolio Strategy

Condominium investing offers investors unmatched flexibility compared to traditional multifamily or single-asset investments. Investors may choose to:

Purchase a single condo unit as a long-term rental or pied-à-terre investment
Assemble a portfolio of units within the same building to benefit from operational efficiencies and pricing leverage
Build a multi-building portfolio across neighborhoods
Diversify geographically by owning units in both New York City and Miami, balancing market cycles, seasonality, and tax considerations

Because each unit is deeded separately, investors retain the ability to:

Sell units individually or in groups
Reallocate capital through 1031 exchanges
Adjust exposure to specific neighborhoods or buildings over time

Pro Forma Investment Analysis

Before acquisition—and continuously throughout ownership—Krieger Real Estate conducts detailed pro forma analysis tailored specifically to condominium units.

Our analysis includes:

Common charges and assessment history
Unit-specific real estate taxes
Available tax abatements (e.g., 421-a, J-51, or local equivalents)
Building leasing policies and rental restrictions
Typical approval timelines and application fees
Operating expenses unique to the building
Insurance requirements
Vacancy and turnover assumptions
Long-term appreciation and exit scenarios

We model both cash-flow performance and total return, allowing investors to understand how individual units perform on a standalone basis or as part of a broader portfolio.

Sponsor & Seller Negotiation Expertise

For new development and sponsor-owned units, Krieger Real Estate acts as a negotiator on behalf of our investor clients.

Our negotiation services include:

Portfolio pricing for multiple unit purchases
Negotiation of sponsor concessions and closing cost credits
Rent-up flexibility and leasing timelines
Custom sponsor riders for investor protections
Coordination of bulk purchase strategies within a single building

The Operational Reality of Condo Unit Management

Managing a condominium unit is administratively intensive and requires constant coordination between multiple parties. Unlike traditional rentals, condominium leasing involves significant documentation, approvals, and compliance oversight.

Krieger Real Estate manages every aspect of this process, including:

Preparation and submission of condo board rental packages
Coordination with tenants to collect required documentation
Submission of application fees and compliance forms
Scheduling move-ins and move-outs in accordance with building rules
Coordination with on-site managing agents, superintendents, and building staff
Enforcement of house rules and lease provisions
Ongoing communication between owners, tenants, and building management

This level of detail is where most general property managers fall short—and where Krieger Real Estate excels.

Comprehensive Condo Unit Management Services

Leasing & Tenant Placement

Unit leasing and marketing
Lease drafting with condominium-specific compliance riders
Application processing, credit checks, and background screening
Condo board package preparation and submission
Move-in and move-out coordination

Lease Administration & Compliance

Lease renewals and rent increases
Lease enforcement
Verification of renter’s insurance policies
Completion of condo board alteration agreements (as applicable)
Compliance with all building house rules and bylaws

Financial Management

Rent collection and online rent payments
Establishment of owner trust accounts
Payment of:
Mortgage
Unit property taxes
Common charges and building fees
Monthly income and expense reporting
Security deposit processing for new accounts and closeouts

Maintenance & Building Coordination

24/7 call answering for tenant inquiries
Emergency response services
Expedited maintenance coordination
HVAC service contracts
Coordination with building managing agents for all repairs
Vendor coordination and insurance certificate verification
Owner approval for repairs when required

Reporting, Analysis & Asset Management

Monthly financial reports
Unit inspections and property evaluations
Asset analysis reports with comparable sales
Coordination of tax and legal services
Strategic guidance for refinancing or resale

Resale & Exit Services

Unit listing and marketing for resale
Portfolio disposition strategies
Coordination with brokers, attorneys, and closing agents

A True End-to-End Platform for Condo Investors

Krieger Real Estate’s condominium unit management platform is designed to function as a complete investment ecosystem—from acquisition and underwriting to leasing, management, reporting, and eventual sale.

By combining deep operational expertise, investment analysis, and hands-on management, we deliver a seamless experience that allows our clients to focus on strategy while we manage execution.

For investors seeking a sophisticated alternative to traditional real estate ownership, Condominium Unit Management by Krieger Real Estate represents a proven, scalable, and highly refined solution.