on Google
Slow processes, accounts that are hard to follow and notices forgotten in the entrance hall are still common complaints from people who live in condominiums. On the Norte Imobiliário & Business podcast, Condoroo’s founder and CEO explained how this condominium management start-up, founded in 2023, came about and what changes when technology is put at the service of the manager. Here we sum up the topics of the conversation and explain what they mean for your building.
In short
- The idea came from analysing the US market for homeowners’ associations.
- Bank integration shows the condominium’s balance almost in real time.
- The law gives the administrator 10 days to issue the statement of charges when a unit is sold.
- Technology is only useful if it gives the manager time to be in the building.
- Before hiring, ask to see how the management company presents the accounts.
The episode
The episode «8ª Temporada | Episódio 02 -Rodrigo Bourbon, fundador e CEO da Condoroo, startup portuguesa» (season 8, episode 2, in Portuguese) was published on the Norte Imobiliário & Business podcast channel. In the conversation, the founder talks about his background in economics, management and investment banking, and about a programme in the United States where he studied the market for homeowners associations. The conclusion was that the problems were similar to those in Portugal: little transparency and outdated administrative processes.
The topics of the conversation
| Topic | What was said | What it means for the building |
|---|---|---|
| Bank integration | Balance updated almost in real time | Accounts that are easier to follow |
| No-debt statements | Issued faster | Unit sales without delays |
| Technology for the manager | Automating repetitive tasks | More time for inspections and contacts |
| Phone support | Calls answered by people | A reply from someone who knows the building |
| General meetings | Quote comparisons and digital minutes | Better-informed decisions |
| Expansion | Growth to Porto and Braga | Managers close to the buildings |
Accounts you can follow day by day
In the traditional model, bank reconciliation is done once a month, or only at year end. At Condoroo, the system connects to the condominium’s bank account, and a payment of charges shows up in the balance almost immediately. The account remains in the condominium’s name.
We have view-only access to the condominium’s account through Open Banking, and each transaction is reconciled as soon as it comes in. With the accounts reconciled, a no-debt statement requested for a sale can be issued quickly (how it works).
See what you should ask your management company for in our guide to transparency in condominium accounts.
No-debt statements when a unit is sold
Anyone selling a home in a building needs a statement from the administrator showing the unit’s debts to the condominium. The law sets the deadline:
«2 – A declaração referida no número anterior é emitida pelo administrador no prazo máximo de 10 dias a contar do respetivo requerimento e constitui um documento instrutório obrigatório da escritura ou do documento particular autenticado de alienação da fração em causa, salvo o disposto no número seguinte.» — Civil Code, article 1424-A(2)
In plain English: the administrator must issue the statement within 10 days of the request, and it is a compulsory document for the deed (or authenticated private document) selling the unit.
With up-to-date accounts, the statement can be issued without waiting for the month to close. For anyone with a deed date already booked, this makes a difference. See also what happens with debts to the condominium.
Technology at the service of the manager
In the interview, the founder explained that most of Condoroo’s technology is designed for the manager, not to replace the manager. By automating repetitive tasks, such as entries, notices and reminders, the manager gains time for what matters most: visiting the building, following up maintenance and talking to residents. Technology is only useful if it gives the manager time to be in the building. We develop this idea in our article on the false dilemma between technology and proximity.
Communicating with owners
Calls are still answered by people: according to Condoroo’s call metrics, the average call lasts 5 minutes and 15 seconds. When the building’s manager is unavailable, the call passes to a colleague who can see the building’s history. Letters to owners are sent with tracking, so there is a record of every notice.
Better-informed general meetings
At general meetings, owners receive summaries that compare quotes on price, but also on materials, deadlines and guarantees. For extraordinary works or innovations, the law requires the administrator to present at least three quotes:
«Sempre que estiver em causa deliberação da assembleia de condóminos relativamente a obras de conservação extraordinária ou que constituam inovação, (…) o administrador está obrigado a apresentar pelo menos três orçamentos de diferentes proveniências para a execução das mesmas.» — Civil Code, article 1436(2)
In plain English: whenever the general meeting is to decide on extraordinary maintenance works or innovations, the administrator must present at least three quotes from different sources.
Minutes are prepared in digital format, which makes signing and filing simpler. See how construction management works.
Growth in the North
In September 2025, ECO reported that Condoroo would extend its management to 23 more cities. In the conversation, the founder described the expansion to Porto and Braga as a strategic step and the public in the North as pragmatic and attentive to efficiency. For investors, professional management helps prevent the property from deteriorating and arrears from weighing on returns. Growing into other cities requires the same method everywhere: managers with assigned buildings, inspection visits with records and meetings prepared with the same documents. Today, Condoroo manages more than 600 condominiums.
What to ask a technology-driven management company
- Is the bank account in the condominium’s name? It should be.
- How often is bank reconciliation carried out? The more often, the better.
- How quickly is the statement of charges issued? The law sets a maximum of 10 days.
- Who answers the phone? A person with access to the building’s history.
- How many buildings does each manager have? That determines how much time is available for yours.
How Condoroo helps
Condoroo manages more than 600 condominiums, including buildings with more than 300 units, with a team of more than 20 professionals. We carry out more than 35 inspection visits a day and hold meetings in person, we have professional liability insurance of €500,000 and we have held the DECO seal for the third year in a row. Plans start from €6.50 per unit per month. If you want to hear the full conversation, the episode is available on the podcast channel. You can also book a clarification session.
Condominium management start-up: frequently asked questions
Where can I listen to the interview with Condoroo's CEO?
On the Norte Imobiliário & Business podcast channel, in season 8, episode 2 (in Portuguese).
When was Condoroo founded?
In 2023.
What is bank integration?
It is the connection between the management system and the condominium’s account, which shows payments almost in real time.
How quickly must the statement of debts to the condominium be issued?
Within 10 days of the request, under article 1424-A of the Civil Code.
Does technology replace the manager?
No. It automates repetitive tasks and gives the manager more time for the building.
Is the bank account in Condoroo's name?
No. It is in the condominium’s name.
This article is for information only. Legislation and websites checked on 26 October 2026.
