This is a very important distinction that too many residents and board members don’t fully understand. They complain about the fees paid to the property management company and think the solution is to hire their own staff. What they don’t realize is that makes them an employer, with all that comes with that including the need to remit payroll taxes and the associated liability of having employees. And if an employee quits or is ill, the board has to deal with that, and it can be quite an issue especially for high turnover positions such as cleaning and security staff. Having a company provide all of that and avoid employer status is a big benefit. It’s not always about saving a few bucks here and there … those few saved dollars can end up costing you big time down the road.Most condos do not hire Managers themselves, they hire PM Companies and the fee they charge is for the time of the PM plus all the (considerable) back-office time to process fees, pay bills and so on. Is the $1-00K you talk of the total fee paid to a PM company or what you think your PM gets annually.