It’s crucial that board members adhere to a set of ethical standards that can help them fulfill their volunteer duties with the community’s best interests in mind. CAI’s Model Code of Ethics for Community Association Board Members can serve as a basic framework.
Fannie Mae and Freddie Mac recently made changes to their lending requirements for condominiums in vacation areas and resort-like communities, but the process may be opaque and difficult to dispute by a homeowners association and its residents.
Every community association requires a set of governing documents to provide its legal framework and operation. CAI has a new resource to help attorneys, board members, and community managers when drafting or amending provisions that govern a community.
Community associations switched to virtual meetings early in the pandemic to ensure continuity in operations—which has brought flexibility to boards and managers and led to higher attendance from residents.
Business partners have adjusted their operations to continue serving community association clients during the pandemic. They also reported no major impacts to staffing, client base, or budgeted expenses, according to a CAI survey.