To start, it is important to note that the management company is not the HOA or condo association.
The management company is an agent that is contracted by your community board of directors to carry out work per the management contract, which can vary from community to community. A management company is not the decision maker.
Management companies typically are responsible for sending notices of assessments, helping prepare the annual budget (although approved by the board of directors), helping prepare for annual and board meetings, producing monthly financial reports, managing communication on behalf of the board of directors, providing accounts payable services, providing accounts receivable services such as collection, coordinating with vendors that work for the community and more.