INDEPENDENT TRANSITION ADVISORY
Self-Management Transition
Helping condominium, homeowners, and cooperative associations successfully transition from third-party management to self-management.
Self-management can reduce costs, improve transparency, and give boards greater control over their communities. However, transitioning away from a management company requires careful planning, financial controls, vendor coordination, and operational expertise. Common Interest Advisors helps boards evaluate, plan, and execute successful self-management transitions.
Is Self-Management Right for Your Association?
Cost Savings
Reduce management fees while maintaining professional financial oversight and operational controls.
Control & Transparency
Gain direct visibility into contracts, financial reporting, reserve planning, and owner communications.
Board Commitment
Understand the responsibilities, staffing requirements, and governance considerations necessary for success.
How We Help
Feasibility Assessment
Evaluate whether self-management is realistic based on size, complexity, staffing needs, and governance structure.
Transition Planning
Develop a detailed transition roadmap covering records, banking, vendors, insurance, technology, and communications.
Financial Controls
Implement accounting processes, internal controls, budgeting procedures, reserve planning, and financial reporting frameworks.
Board Training
Help directors understand their responsibilities and establish sustainable governance practices.
Finding the Right Community Association Manager
Many associations choose a hybrid model that combines self-management with a dedicated Community Association Manager. Common Interest Advisors assists boards in identifying, evaluating, and recruiting qualified management professionals who fit the association's culture, budget, and operational needs.
- Develop position requirements
- Review qualifications and experience
- Screen candidates
- Assist with interviews
- Evaluate compensation structures
- Support onboarding and transition
Common Transition Risks
- Incomplete records transfer
- Poor vendor coordination
- Weak accounting controls
- Loss of institutional knowledge
- Inadequate board training
- Technology and banking disruptions
Related services
A successful transition rests on strong financial footing and clean records. Common Interest Advisors can also help with Budget Preparation, an independent Reserve Study Review, and free records-request forms for a complete handoff from your management company.
Who We Serve
Condominium Associations
Homeowners Associations
Cooperative Housing Corporations
Timeshare Developments
Experienced Association Advisors
We help associations evaluate operational structures, management relationships, budgeting, governance, reserve funding, and financial controls. From self-managed communities to some of the nation's largest condominium associations, our focus is helping boards make informed decisions that protect owners, preserve assets, and support long-term financial stability.
Why Common Interest Advisors?
Common Interest Advisors is an independent advisor. We have no management contracts to sell and no vendor affiliations, so our guidance is driven solely by your association's long-term interests.
- Independent advisor
- No management contracts to sell
- No vendor affiliations
- Financial and governance expertise
- Experience evaluating association operations
- Focus on long-term owner value
Led by Michael J. Novak, CPA, CMA, CFA
Michael J. Novak is Co-Founder and Co-Managing Partner of Common Interest Advisors. He holds an MBA in Finance from the University of Chicago Booth School of Business and brings more than four decades of accounting experience, including more than thirty years serving community associations and nonprofit organizations.
Common Interest Advisors provides independent financial, governance, budgeting, reserve funding, and forensic advisory services to condominium, homeowners, and cooperative associations.
Considering Self-Management?
Whether your association is exploring self-management, evaluating alternatives to its current management company, or searching for the right operational model, Common Interest Advisors can help.
See it in the real world — at 175 East Delaware Place, roughly $23M in association funds sat in accounts with no board signatory and the management firm operated 21 months without the license Illinois law requires. Independent oversight is how boards catch this. Read the case study →
See it in the real world — at 175 East Delaware Place, roughly $23M in association funds sat in accounts with no board signatory and the management firm operated 21 months without the license Illinois law requires. Independent oversight is how boards catch this. Read the case study →
