You’re part of a team running a mini city — your HOA. It’s a big deal, right? You’re not just organizing community events or deciding on paint colors. You’re managing finances, enforcing rules, and keeping everyone’s best interests at heart. But with great power comes great responsibility (and, yes, potential legal risks). Let’s explore those responsibilities, how to handle them like a pro, and where Chicago property managers can make your life much easier.
Serving as a board member of a Homeowners Association (HOA) is a role of significant responsibility and impact.
Discover the pivotal role of HOA board members in preserving your community’s value and harmony. This comprehensive guide tells why serving your HOA might be your next fulfilling endeavor.
Effective January 1, 2022, the Condominium Act of Illinois is amended to state that an association can amend their Declaration/By-laws to provide that a majority of the board must be owner-occupants.
Succeeding as a homeowners association board, especially when it comes to close-proximity communities, can be quite challenging. There are many responsibilities, including fiduciary. Plus, homeowners are, understandably, quite emotional about what should be their safe and happy space. We know HOA and condo boards should enforce rules, have effective meetings, and take minutes. But the recipe to association board success isn’t that simple. The board must act as a team, effectively deal with problems, and be open-minded. Here we explain the characteristics that make an association board successful.
An HOA board of directors is the governing body of an association. It is in charge of policy-making and, more importantly, must uphold all legal and fiduciary duties. Board members are in a position of authority and are to act on behalf of the association. When issues arise, having a code of conduct in place will reduce the chance of a possible problem. An HOA board members’ code of conduct can guide board members to maintain high ethical standards and act in a respectful manner. This encourages members to be considerate of ethical standards while being a community leader.
For a homeowners’ association to function properly, a Board of Directors is a necessity. The volunteers elected to be on the board are responsible for ensuring the community runs smoothly and the association functions normally. Without a capable board, the community may become neglected and fall apart. For your reference, here we describe HOA leadership roles and duties.
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