Condo Media - November 2019 - 20

Homeowner's Corner

Association
Governance

Volunteer Board Members and
Professional Association Managers
Condominium associations have a board to help the
community run smoothly. The board consists of volunteers
who execute a wide variety of tasks homeowners may not be
aware of; however, their work affects every single resident.
One of the most important things the board does is create
and enforce the association rules. While some residents may
not like being told what they can and can't do, ultimately
the board is looking out for the greater good. By enforcing
the rules, the board is doing its best to keep property value
up and conflicts down. Of course, the board wants to make
sure the rules are beneficial for the majority-and hopefully
all-residents.
Another major responsibility of the board is to collect
assessments from homeowners. Collecting this money is
important for the stability of the association because the
assessments pay for the common elements enjoyed by all
residents. Assessments also help to replenish the reserve funds,
which pay for any major repairs the association may need.
The board is responsible for the association's finances, and
collecting assessments is how it ensures that the association
remains solvent.
Finally, the board acts on behalf of the association by
hiring professionals, i.e. association managers, attorneys,
contractors and others who help better the association.
Board members also help conceive and lead many of the
projects that will improve the condominium.
While it's a big job, board members serve the residents
and make the community a place to call home.
WHY PROFESSIONAL MANAGEMENT?
There's a lot more to managing a community association
effectively than you may realize. It's about governance-
enforcing rules, overseeing finances and conducting
elections-as well as property management-building
maintenance, grounds upkeep, repairs and replacements.
Your home and your ownership interest in the common
elements represent a huge asset, possibly your largest asset.

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CONDOMEDIA November 2019

Doesn't it make sense to have a knowledgeable, trained,
professional community association manager watching
out for your interests? Consider all they have to offer:
Professional managers must be aware of many laws
and regulations, such as real estate, corporate and
labor laws, federal laws and state statutes and
government regulations.
Professional managers must have a working knowledge
of finances, accounting, budget preparation, taxes
and insurance.
Professional managers must have strong personnel
management skills-hiring and supervising contractors
and staff.
Professional managers must work and communicate
effectively with residents, resolve disputes and
facilitate communications.
Professional managers must have a keen understanding
of property maintenance-landscaping, repairs and
replacements, facilities upkeep and mechanical
maintenance.
Professional managers coach and mentor the board
members who govern the association. They help conduct
meetings, supervise elections and ensure compliance
with governing documents. Governance is one key
area where property management and community
management differ.
Professional managers are part of the association team,
working hand in hand with volunteer board members to
help build better communities.
Condo Media - November 2019

Table of Contents for the Digital Edition of Condo Media - November 2019
