Condo Management Fees in Panama: What Managers Charge
Short answer: Property managers for condominiums (P.H.) in Panama usually charge per unit with a monthly minimum. As a market reference, rates run from about $6 per unit with a $350 minimum (off-site) up to $16 per unit with a $1,900 minimum (daily on-site presence). The greater of the two is always charged, and surcharges may apply for amenities or multiple towers.
Reference rates by service tier
| Tier | Per unit | Monthly minimum | Best for |
|---|---|---|---|
| Off-site (scheduled visits) | $6 | $350 | Small buildings with few services |
| Part-time (fixed hours) | $9 | $700 | Mid-size buildings with basic daily operations |
| On-site + co-coordinator (daily presence) | $16 | $1,900 | Large buildings or many amenities |
These are starting points, not fixed prices. The final figure depends on the building and is negotiable.
How the fee is calculated
- Multiply the number of units by the tier’s per-unit rate.
- Compare with the monthly minimum and keep the higher one.
- Add surcharges if they apply: +8% for amenities (pool, gym, social areas) and +12% for more than one tower or phase. They add together.
Example: a 40-unit building on the on-site tier pays $1,900 a month (40 × $16 = $640 is below the minimum). With a pool and two towers the surcharge is 20% and the fee becomes $2,280 a month.
What a good service includes (what to ask for in writing)
- Ordinary and extraordinary owners’ meetings, with minutes.
- Accounting, monthly financial statements and annual budget.
- Fee collection and delinquency management.
- Handling of the Contingency Fund and bank account.
- Hiring and supervising vendors (security, cleaning, elevators).
- Compliance with Law 284 of 2022.
- Emergency response, such as an earthquake or elevator failure.
A low price that leaves out meetings, collection or accounting usually costs more later.
For foreign and absentee owners
If you own a unit and live abroad, a professional manager matters even more: reporting in English, remote access to meetings, proxy management and clear statements of your fees and the Contingency Fund.
After the earthquake: a good moment to review management
If your building did not respond in an orderly way (inspection, insurer notice, extraordinary meeting with quorum and minutes), management may need reinforcing. Law 284 allows an extraordinary meeting for urgent matters with 3 to 5 calendar days’ notice (arts. 64 and 65).
Frequently asked questions
Who sets the manager’s pay?
The owners’ meeting approves the budget, and the contract defines scope and price.
Is the management fee the same as the monthly condo fee?
No. Owners pay common-expense fees to the building. The manager’s pay is one line in that budget.
Can I hire a manager only for the emergency meeting?
Yes. Many buildings start with a one-off service and then move to full management. Ask for a separate quote.
Rates are market references published by Duran Real Estate and vary by building. Based on Law 284 of 2022; not legal advice.
Related guides
Cover image: Mariordo (Mario Roberto Durán Ortiz), CC BY-SA 3.0, via Wikimedia Commons. Illustrative image.