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- Board Operations
Pressure & Perks
The drawbacks of serving on a board are well known. For one thing, it’s a lot of work. Hours of work, of poring over spreadsheets, of talking to
property managers and vendors and residents and tenants when you could be
watching the big game. And what compensation do you get for all your blood,
sweat and tears? Not a penny. Up front, that’s a lousy deal—labor and emotional investment with no reward.
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Avoiding Burnout
With only so many hours in the day, balancing the demands of work, family and
outside obligations can become a struggle for anyone, and community association
board members are no different. They volunteer countless hours guiding their
associations, working together to juggle complex issues that affect our lives,
our homes and our pocketbooks — all for no money and not much thanks. It’s a tough job and it can, from time to time, lead to burnout, stress and
anxiety. Read More
How to Deflect Board Members' Personal Agendas
It’s an unfortunate fact of condominium life: Board members’ responsibilities and their personal agendas intermingle more often than they should.
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"You're Fired"
Although rare, there are instances where a community association has to dismiss its manager — like a recent case in Florida where the manager admitted to writing himself checks from his condominium to the tune of over $40,000. Read More
What Makes Them Tick?
Since the board of a community association is usually composed of a collective group of unique individuals with their own
perspective and opinions, no two boards are ever the same. However, there are
certain overall, universal qualities that can either make or break a board, and
these are traits that everyone involved should emulate so things run smoothly.
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Rental Remedies
Chris D’Errico has handled about 1,000 residential rentals in the Boston area since
2003. These days, more and more of his calls are from condominium owners.
Unable to find buyers for their homes, they’re turning to renting them. “It’s up about 50 percent from last year,” says D’Errico, the president of Greater Boston Properties in Winchester, Massachusetts.
“It’s a good thing.”
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No Stone Unturned
This winter, when the cold winds of winter whip down from Canada or Nor'easters swirl up the coast bringing tons of snow, condominium residents will head to that thermostat and crank up the heat. Unfortunately, each twist of the thermostat dial may put the chill on association budgets. Read More
Gone South
If they haven't left already, the remaining "snowbirds" will shortly depart for their warm and snug Sunbelt condominiums. Left behind will be scowling residents scraping ice off their windshields and shorthanded association boards — many of whom will have to deal with more than one member who's gone south. Read More
Financial Issues
New lending guidelines from HUD mean that FHA loan requirements will be significantly tightened for condominium sales. The new requirements could have a profoundly negative effect on the ability to sell or buy a condominium unit that requires FHA financing. It’s estimated that the vast majority the condominiums in New England will not meet the new guidelines, and unless they move quickly to comply they could see their property values directly impacted.
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Advice for New Board Members
Almost every condo owner, from time to time, has thought about running for the board. Most quickly discount the notion, but a fair number throw their hats into the ring, and some of these even get elected. But what does it mean to be elected to the board? What kind of person does it take to serve, and what are their duties? Read More
