Condos and HOAs are managed by a board of directors. The board creates and enforces the organization’s Covenants, Conditions & Restrictions (CC&Rs), as approved by owners. The board is also responsible for all aspects of management. Management is a considerable amount of work, so the board often hires a management companies to handle day-to-day duties.
The board of directors gets elected democratically by owners, and any owner the age of majority can stand for nomination. Most board members serve a term of not more than three years. Typically, board member positions are unpaid, though honorariums are possible. While each board operates in its own way, it is typical to appoint a president, vice president, secretary and treasurer. Some communities have additional members who may be involved with certain committees, such as landscaping.
An HOA’s board of directors is responsible for all aspects of association operation. The board:
- collects and manages HOA fees,
- maintains the common property,
- obtains insurance coverage for common assets and buildings,
- manages legal affairs,
- drafts and enforces rules and regulations, and
- communicates with homeowners.
Board members meet regularly, communicate important aspects about fees, insurance, legal matters, and will hold an annual meeting with all owners. An HOA operates best with a functional board, so you can make a difference!
Believe your board needs a makeover? Check out this guest post by Toby.
Want to learn more about your HOA? Run a free Eli Report!