A management company exists to handle the operational and administrative work so the board can make decisions. These are the standards every board should require.
Monthly financials should arrive on a predictable schedule and be easy to read. The board should not have to chase numbers or wonder where money is going.
Questions from the board and from owners should get answers in a reasonable time. Issues should not sit unaddressed.
When something needs attention—maintenance, a vendor, a reserve question—the management company should bring options and a recommendation, not just a problem.
The company you hire should be the company that does the work. Layers of staff and software portals are not a substitute for direct responsibility.