March 2018

O N E DO THING BETTER

Important Traits of Effective BoardMembers By: Mary W. Barrett, Esq., Stark & Stark SERVING ON YOUR CONDO/HOA BOARD CAN BE A THANKLESS JOBWITH FEWPERKS EXCEPT MAYBE THE SATISFACTION OF A JOB WELL DONE. SOME BOARD MEMBERS HAVE MORE SUCCESS THAN OTHERS AND THESE BOARD MEMBERS MAY SHARE CERTAIN IMPORTANT QUALITIES. EFFECTIVE BOARD MEMBERS SHARE OTHER IMPORTANT QUALITIES — SUCH AS A THICK SKIN — BUT ANY BOARD MEMBER WHO POSSESSES THE FIVE TRAITS BELOW WILL CERTAINLY BE SUCCESSFUL AND AN ASSET TO THE ASSOCIATION. DEDICATED TRANSPARENT

They are committed to their communities as a whole - not just one issue . They keep their eyes on the prize: fiscal responsibility and common property maintenance. They discharge their duties in good faith and with a reasonable degree of diligence. 1

They understand they are fiduciaries to a corporation. They make Association financial records available to unit owners. 2 They do not micromanage. 5 They remember they are spending the unit owners’ hard-earned money. They hold open meetings. They delegate duties to a competent and professional property manager.

COURAGEOUS They make decisions – even unpopular ones - in the best interests of the association. They know serving on a board is not a popularity contest.

3 DELEGATORS They utilize committees.

They increase fees when necessary.

They are not derailed by a few disparaging comments.

RECEPTIVE They surround themselves with competent experts.

They solicit and consider advice.

They allow unit owners to voice opinions.