Being on a Condo Board entails numerous tasks. Some include intense planning, such as a major project or special assessment. Other tasks must be more oriented towards being a leader within your community. There are certain Condo Association Board duties which make up the bread and butter of your activities. No matter what else you work on, you can expect that these three activities are part of the job.
Making a Budget
Making a budget is not easy work, but it is one of your Condo Association board duties.
Every year, your Condo Association needs to develop and execute on a budget. This is the basis by which your monthly assessments – otherwise known as Condo or HOA fees – are formed. You will gather information such as past expenses, reserve studies, and anticipated future costs to build this budget. If your Association is professionally managed, your Management will take a major role in this, but you should not rely solely upon their recommendations – the Board needs to weigh in and ensure you’re managing your finances tightly.
The final of the basic Condo Association Board duties is maintaining infrastructure. No, you are not expected to get out there with a shovel or paint bucket to maintain your building. But you are responsible for the policies that are set regarding building maintenance. Do you want every speck of dust vacuumed within an hour? Budget and hire services accordingly. Are you trying to do the bare minimum to keep things running? There’s a plan for that too.
Your maintenance should be driven by fiduciary duty, but there’s a lot of gray area beyond that. It really is up to you and your fellow Board members to determine what’s right for your community. Just remember to always put safety first.
Responding to and Resolving Owner Issues and Complaints
You’re going to get unhappy people. It’s part of the job.
Dealing with Owner issues and complaints is one of the chief duties of the Board. There are certain powers – such as waiving late fees, or exemptions from rules – that only a Board can approve. Additionally, there are times when an Owner might be dissatisfied with your Management and escalate to the Board. On the extreme end, you deal with hearings when there has been a formal rule violation.
Finding truth is always a challenge. There are tricks for getting to the bottom of things, but often you’ll have to rely on your own judgment and gut instinct. This can be the hardest part of the job.
Keep Things Running
These aren’t sexy tasks, but they are what keeps an Association going. The level of complexity and time commitment will vary dramatically by the size and scope of your community. A 50-home HOA with minimal landscaping will be a completely different animal than a 600-unit Condominium with elevators, a pool, and a roof deck. No matter what the size and scope, however, you’ll find that the overall flow is roughly the same – it’s just the depth of the situation that will change.
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