Individuals on a condominium corporation’s board of directors represent condo owners within their community and ensure property management related operations run smoothly. This includes ensuring the owner contributions and/or fees are collected, maintaining up-to-date records, ongoing monitoring of the financial position with a close eye on reserve fund related expenses and preparing the corporation’s budget. In addition, board members address resident complaints and uphold the corporation’s bylaws at all times, which may differ according to corporation, area and community culture.
Individual roles on a board of directors include president, vice president, treasurer, and secretary, all of whom work toward the preservation of equity for the benefit of their condo community. Often, it is the board president who supervises corporation affairs and business matters, and resides over board votes and meetings. Vice presidents generally hold similar responsibilities, and often chair meetings in the president’s absence. Treasurers, meanwhile, hold responsibility for managing finances and ensuring accurate budgets. Finally, secretary roles for condominium corporations involve recording board meeting minutes and keeping condo residents informed of meeting times, agendas, and relevant changes.
As a cooperative team, condominium corporation board members make important decisions regarding buildings and grounds maintenance and work to uphold a community’s equity and good reputation. Effective corporation boards promote respect for fellow residents and property, and oversee resident complaints fairly and equally. Holding a position on your corporation's condominium board provides a great opportunity for those who enjoy a collaborative approach to board governance.