Condominium and homeowners association Board members have many individual and shared responsibilities. Most of these people lead busy personal lives too. Board members may have to step up to fulfill roles when other board members are unavailable. Because roles can become intertwined, it can be challenging to understand the where one position begins and another one ends.
The HOA Board of Directors includes the president, vice president, secretary and treasurer. In addition, you may also have Board members at large and a management company. These Board members typically have some of the following responsibilities:
President: This role is to prepare meeting agendas and preside over all Board meetings. Presidents usually have the power to manage day-to-day operations within the association, including entering into contracts and agreements on behalf of the association. This person is usually the liaison between the HOA Board and property management company.
Vice President: Responsibilities for this role include assisting the president with all duties, and to assume those duties in the president’s absence or if the president is unable to act. The vice president may also chair or coordinate association committees.
Secretary: The secretary takes meeting minutes, distributes the minutes and communicates notices of regular and special meetings. According to these Jacksonville property managers the secretary also certifies voting results and maintains proxies and association members’ voting authorizations. In addition, the secretary maintains the association’s corporate record book of all meeting minutes and resolutions.
Treasurer: This officer oversees the financial statements and expenditures within the guidelines of the Board’s policies. He or she reports on the budget and financial matters at each Board meeting.
Members-At-Large: Other HOA Board members serve on various committees and assist the Board’s officers with their duties. This is an excellent training opportunity, which is why members-at-large often replace officers as they step down.
Management Company: The management company assumes administrative responsibilities as requested by the Board. This can also include tracking and reporting collection of assessments, accounts payable, and other financial duties as outlined in the contract. Disbursement reports and invoices are typically reviewed and approved by the Board treasurer or president. The management company may also make site visits to review property conditions and work with the Board to plan reserve funds. In addition, the company may handle vendor bids, assist in creating a budget and attend Board meetings. Communities have different administrative needs, so management companies offer a wide range of services that should be outlined in the contract.
When each Board member understands his/her responsibilities as well as the roles of other members, the HOA Board operates more effectively and efficiently. Maybe it’s time to review roles and responsibilities at your next Board meeting.
Wise Property Solutions is a property management company serving East Tennessee (including: KINGSPORT, TN | JOHNSON CITY, TN | BRISTOL, TN | ELIZABETHTON, TN | ERWIN, TN | BRISTOL, VA | KNOXVILLE, TN) with offices in Knoxville, TN and the Tri-Cities, TN. Specializing in Condominium Association Management, Home Owners Association Management, HOA Management and Gated Community Association Management. The firm is East Tennessee’s only Accredited Association Management Company (AAMC®).