Let’s take a closer look at some of the condo board roles and responsibilities. Some of the duties involved may or may not be new to you, but good news is that none of them require any previous experience.
The Secretary accurately records the board meeting minutes, which are then distributed to the board for approval and will later be made available to all owners. This is a good position for somebody who is responsible, organized, a good listener, and know their way around emails and Microsoft Word.
The Treasurer reviews financial statements produced by the condominium’s management company with the purpose of ensuring that any expenses made align with the condo’s annual budget. This position is perfect for anyone that had a good knack of working with numbers, and has high attention to detail.
The President plays a vital role in ensuring that condo operations are on track, and maintaining relationships between the board, the property managers, and the owners. They set the agenda and chair/lead board meetings. When there is a split vote in board matters during the meeting, the president will often have the tie-breaker vote. This position requires someone that is fair, honest, committed, and a team-player.
Stay tuned as we will dig a little bit deeper into more aspects of each board member committee roles in a later blog post!