However, this type of transparency is not always enough. A board also needs to consider its obligation to maintain governance continuity - years of experience and knowledge are at stake. Board members need to ensure that they are acting in a way that will set a standard for future board behavior. When a homeowner has an issue or concern within their community, you often hear comments like “I could do a better job than the current board is doing” and other similar statements. In actuality, it’s not that simple. Taking steps to mitigate homeowner revolts and wholesale board turnover is a must!

·
Governing documents are written in legalese,
and certain phrases have special meanings
·
Overlaps and exclusions in insurance coverage
may leave homeowners underinsured
·
Delays in enforcing violations (i.e. noise,
smoking, pets) are due to a series of required disclosures and time periods
that vary by situation and government law
·
Collections can be arduous, with their own
special set of regulations and court procedures
·
Ownership, maintenance responsibilities, and
insurance obligations may diverge
·
Leasing restrictions and regulations
·
Technical aspects and government regulations
of various vendor professions
·
Differing contractual terms and obligations
·
Fair Housing and Americans with Disabilities
considerations
·
Budgeting and capital reserve obligations
·
Parliamentary procedures
Boards often have only a passing understanding of these
various frameworks, and the average homeowner may not know these even exist -
much less understand how they work separately or together!

Set the example and tone of future Boards by taking time
to educate today!
No comments:
Post a Comment