Date Posted: 2012-06-21 03:33:32
Site Posted: Myproperty.ph
The board of directors of a condo association is considered to be the governing body within a condo. Owners of condo units elect the members, and these individuals jointly head the association and manage the property. Here is a rundown on the three main tasks of a condo board.
1. Implementation of rules
Condos all have a set of rules that residents need to follow, and it’s the board’s job to make sure they are enforced and followed fairly. No one should be exempted from the rules, not even board members, who are expected to perform their duties compliant with the law. When a conflict arises, the board will review whether a rule has been violated, and will decide the proper action to take against the owner in question. Rules are not set in stone, however; the board has the power to change them as they see fit.
2. Maintenance of the building
The board is in charge of overseeing the repairs required for the common areas of the condo building, such as the exterior, the corridors and the facilities. The board should also schedule maintenance and inspections on a regular basis to ensure that everything in the building is in working order. In the event that the condo is in need of a number of repairs at the same time, the directors will decide which of the repairs are considered top priority and therefore need immediate attention.
3. Handling finances
Condominium residents are required to pay a certain fee that goes to funding certain operations in the condo, such as administration and repair fees. It’s the board’s job to set the fees that owners should pay, how much the annual budget should be, and the amount of the reserve set for emergency situations. If an owner refuses to pay the condo association fee, the owners are obliged to take action depending on the severity of the case.
Directors of a condo board are seen as persons of authority, since they represent the best interest of the residents. In light of this, these elected members should ensure that they are able to carry out their duties justly and that all their decisions are made for the good of all the residents.
Jillian Cariola, Writer
(cover image by sanja gjenero)
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