It happens slowly. Typically the condo board is in charge of contracting a management company who they give the fees to in order to keep up the place. Said co

It happens slowly. Typically the condo board is in charge of contracting a management company who they give the fees to in order to keep up the place. Said condo board is typically made up of retirees with the time to do it and they're less sophisticated than the management company. Over time, the fees go up while the management company skates by doing a little less each year.