What does "full service" management actually include?

Nothing standardized, which is exactly the problem. "Full service" is a marketing phrase, not a defined scope, and two proposals using it can differ by twenty percent in real cost.

A reasonable core: financial administration and reporting, assessment billing and collection, accounts payable, vendor coordination and oversight, compliance and violation processing, architectural request administration, meeting attendance and minutes support, records maintenance, insurance and statutory deadline tracking, and owner communication.

What is commonly carved out and billed separately even under the phrase: additional meetings, collections past the first notice, reserve study coordination, capital project management, annual meeting and election administration, records requests beyond a minimum, and resale documents.

Do not accept the phrase in a proposal. Send a scope list and require every line marked included, extra with a price, or not offered. Three states, no blanks. It is the single most effective thing a Board can do to make proposals comparable, and it takes an afternoon to build.