Condos and HOAs are managed by a board of directors. A board creates and enforces the organization’s Covenants, Conditions & Restrictions (CC&Rs) a document that dictates homeowner actions. The board is also responsible for all aspects of management, but as that is a considerable amount of work they often hire management companies to handle day-to-day duties.
The board of directors are elected democratically by owners. Most board members serve a term of not more than three years, and some can serve as few as a single year. Typically, board member positions are unpaid though honorariums are sometimes offered. While each board operates in its own way, many have a president, vice president, secretary and treasurer plus members who may be involved with certain committees.
An HOA’s board of directors is responsible for all aspects of homeowners’ association operation. The board is required to collect and manage HOA fees, maintain the common property, obtain insurance coverage for common assets and buildings, manage legal affairs, draft and enforce rules and regulations, and communicate with homeowners. Board members must meet regularly, communicate important aspects about fees, insurance, legal matters, and hold an annual meeting with all owners.
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