Community association board members are responsible for governance, compliance, and protecting property values. Few homeowners joining their board for the first time have all the tools to succeed, and the consequences of uninformed decisions can be severe. The question of whether board member education and training should be mandated for volunteers is nearly as old as common interest communities.
Developing and implementing well-crafted policies is a cornerstone of successful association governance. Thoughtful policies protect the association and enhance the overall quality of life for residents. Boards should have clear policies and procedures for governing operations, decision-making processes, rules enforcement, and financial management.
Many community association leaders are unaware that most music and movies are protected by copyright. Use of copyrighted work without a license constitutes infringement regardless of intent. If a community association publicly plays music or a movie, it must first obtain a license.
During my more than 20 years managing and consulting with homeowners associations, I have been able to identify gaps in the relationships between boards, current and future homeowners, and management companies. We all have a role to play. Where do real estate agents stand in that gap?
Reporting requirements under the Corporate Transparency Act have been reinstated for community associations, which now have until March 21 to file an initial, updated, or correct beneficial ownership information report with the Financial Crimes Enforcement Network.
