April is National Volunteer Month, an excellent time to celebrate the volunteers that help community associations thrive. Fiduciary duty is a critical component of successful volunteer leadership. It governs every decision and every action a board takes.
Things have stabilized at the Hammocks Community Association near Miami more than three years after local prosecutors began filing criminal charges against previous board members for allegedly defrauding owners of more than $2 million in a financial fraud scheme. Every instance of financial fraud serves as a reminder, professionals say, of the importance of owner vigilance and the need for safeguards and controls.
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?
With its blend of interpersonal challenges, administrative expertise, and leadership responsibilities, the community management profession both offers immense opportunity and requires intentional career planning. Whether you’re just starting or looking to advance, a clear plan can help you chart a successful and fulfilling path.
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.
