Thinking about Joining the Condo Board?

Are you a born leader and want to get more involved in your community? Want to have a say in what happens to the finances, rules, and maintenance at your community? Being a part of the Homeowners Association Board may be the right fit for you.

A homeowners association is the cornerstone of a planned residential community. Properly run, the board can promote a feeling of community and keep things running in a way that community members would like. This is especially true of the common areas and services offered at many condo associations. Board members can decide to improve areas, change rules, and offer incentives for long-term residents.

There are usually four main board members positions: the president, vice-president, secretary, and treasurer. Together they usually serve without compensation unless the bylaws of the community allow it.

If you are considering becoming a part of your condo board, here are just a few of the job responsibilities you may find yourself taking part in.

Budgets and Finances

Board members should be very familiar with the finances that run your community. This means understanding the governing documents including the bylaws of your association. The board must decide what are the necessary expenses and costs of operation and administration, plus a reasonable reserve for capital repairs and emergency events. The board will then adopt a budget and collect assessments from the homeowners. In a way, an HOA is merely a way for the homeowners to pay for the various expenses of operating the property including the pool, gym, tennis courts or other services that your association provides. Most importantly when it comes to finances, a board provides adequate insurance coverage, as required by the bylaws and local governmental agencies.

Rules and Bylaws

While enforcing the rules of your community may not sound fun, it really is in the best interest of everyone if these rules are followed. Most of the time the job just entails passing rules and advertising the rules. On occasion, however, homeowners must be reminded in writing of the rules that are being broken and what the consequences will be. Even more rarely, a board member will need to authorize legal action against owners who do not comply with the rules.

Maintain Common Areas

Board members have the duty of making sure that the areas that all residents use are kept safe and clean. That may mean prioritizing maintenance work, budgeting for larger projects, and allowing for regular inspections. A board that is well put together can avoid crisis events if a maintenance schedule is carefully followed.

Are you looking for what a board’s legal responsibilities may be? Follow the link, or contact Thayer & Associates, Inc., AMO at 617.354.6480, or visit our website.

 

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