Many times at a Board of Directors Meeting things get off track and then motions and procedures are not properly followed. The following is the six steps on how to properly make a motion at a Board of Directors Meeting.
There always seems to be some confusion when it comes to accounting methods. Each method has advantages and disadvantages. Overall, the main differences between the two systems would be the timing of the transactions and when they are recorded. We will review each method of accounting in this article.
The other day when I received my water bill, the town where I live included in the mailing their most frequent code violations that occur. After I was done reading the list it just clarified in my mind, and reminded me that homeowner associations are just small governments that are trying to keep their communities safe, while trying to maintain/increase the value of the resident’s homes.
Once a year we get a chance to get to know more about our future community leaders. Condominium associations have 'Candidate Information' sheets and distribute them to their residents before an election. Now we see many more associations holding 'Meet the Candidates Night'.
Throughout the years we have seen these types of Board members in our community associations. They are that member who is on the Board of Directors for 'other reasons' than doing what is best for the association.
Board of Directors in community associations are protected from liability in the course of operating and making decisions by what is known by the 'Business Judgment Rule'. The Business Judgment Rule requires that the Board act within a reasonable manner and take the necessary steps to justify their decisions.
Because of the recent economic and mortgage related problems, we have seen a growing trend with Associations hiring new, low cost and low fee service companies. These low cost vendors and service companies that are coming into the marketplace are new, inexperienced and under staffed.
You know that new management company that will say or do anything to have your business? They have some secrets that you should know about and they are hoping that you won't ask.
Do you have a 'drive by' property manager working for your Community Association? You know, the one that has the Board of Directors, the unit owners, staff and the service personnel frustrated and left to wondering what is going on?
If your association has any employees, employs any contractors or has any outside contractors that may do work for owners while on association grounds, then your association needs to be covered by Workers' Compensation Insurance, in some form.
There is nothing worse in the management business than to negotiate, in good faith, a management contract with a new association, only to have them not do what they had agreed to and blame the management company for their failures!
At some point, as a homeowner in South Florida, you will be confronted with a mold problem. Mold will appear either on the outside or inside of your home, depending on the circumstance, situation and the source.
With the aging of our population we are seeing more and more instances of 'trip and falls' within our communities. Some of these incidents are just plain accidents and some are a result of a 'dangerous condition' within the community. In many cases, the owner of the property (common property = association) will be liable for the accident and any injuries.
Many community associations are experiencing tough times as assessment income drops due to the high rate of foreclosures and the non-payment of assessments by their owners. In some cases, they are eliminating services and causing legal problems for themselves.
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