Here is what you need to know before you become a Board Member at your New Condominium.
The board of directors represent the owners. Owners of a condo elect members to become a board member or become one themselves.
There are certain criteria in order to become a board member including:
- be at least 18 years of age
- cannot be bankrupt
- be mentally competent.
- must complete the Condominium Director Training Program
- must comply with new disclosure obligation
What does a condo board of directors do?
A condo board of directors is responsible for the physical and financial well-being of the condominium corporation. They manage the day-to-day responsibilities, maintenance and repair of assets, and fiscal responsibilities of the corporation. The board of directors must ensure the corporation is run in compliance with the Condominium Act, all condo by-laws and rules.
The condo board will meet regularly, usually once a month to conduct condominium business. As part of their responsibilities, directors will:
- make decisions on major repairs and maintenance of buildings and grounds
- ensure all required maintenance and repairs are carried out
- hire specialists
- propose changes to condominium by-laws. For these proposed changes to take effect, a majority of unit owners must vote in favour of the changes.
- follow and enforce rules consistently to promote the safety, security, and welfare of all owners
- address residents’ legitimate complaints/concerns/requests and respects useful suggestions
- provide regular communication with the owners, explain decisions, discuss problems and successes
Although it is a serious job and can be a lot of work, being a board member for your condo is also very rewarding. You are representing the owners and being a voice for them. Knowing that will make you feel proud and appreciated!