"Community associations occupy a space that lies somewhere between public governments and private businesses... As common interest communities have become more prevalent, the legal and social challenges they post have become more apparent." — Susan F. French
This is "the rub" and quite likely why you're on this website right now...
"By vesting management responsibilities in an association, the owners overcome most of the collective action problems presented by commonly owned resources." — Susan F. French
IF ONLY this were true! Management has its place, but is NOT a panacea.
"In larger communities, management companies are often hired to relieve the Board of day-to-day operational responsibilities." — Susan F. French
There's no "easy button." As we discuss in Decision-Making 101, the work product of your association's staff and third-party vendors (law firms, consultants, community association manager, etc.) is only as good as the direction, information (facts and context), conversations and questions you exchange.
"Often, there is nobody left to monitor the management company's activities; however, it is pivotally important that Board members monitor these activities. The management company may not be inclined, or able, to look after the interests of the [association] to the same degree as the owner of the units." — Dan S. Barnabic The Condo Bible for Americans