Thank you for a wonderful beginning to the year of 2022. Everyone is really pulling together to try to help things run more smoothly than the day before. The hard work will be reflected through your community’s growth over time. One of the questions we get asked often is about the Board roles and responsibilities.
The Board of directors is the governing body for the homeowners and condominium associations. Typically elected by the unit owners in the association, the Board makes the decisions that keep the association operating. Many of the duties of the Board include:
“Finances – Establishing a budget, determining the annual assessments (dues), collecting the assessments, purchasing insurance, funding reserves, ensuring the association’s financial viability.
Contracts – Obtaining contracts to perform services required by the association’s legal documents. These may include landscaping, building maintenance, management, reserves studies, pool, security, and more.
Management – Maintaining and repairing the property, supervising staff, committees, and providing services to residents.
Legal – Drafting and enforcing rules, regulations, and governing documents; conducting meetings and elections.” (Bohn, Margo et. al, 2010, Community Association Leadership, pg. 1, Third Edition, Cai Press.)
Specific duties of the board can be found in the association’s legal documents including the Declaration (covenants and restrictions) and the Bylaws for the association. It is important for board members to read these documents and be familiar with the documents, so it is easy to refer to them with questions.
In many cases, the Board delegates these duties to officers of the board, committees in the neighborhood, and/or a manager or management company like Keystone Association Managers. Note that the Board may delegate the duties and authority to perform but cannot delegate the responsibility to perform their duties.
When a question arises about the role of the board, the prime source of information is the legal documents for the association and the ability to find an answer. However, when all else fails, ask Keystone Association Managers or the association attorney for advice.
Thank you all for the positive feedback as well as you taking the time out of your day to give us encouragement through a Facebook review and/or a google review. Every bit counts and means a lot to all of us here doing our best to serve the community.