Condo Boards RoleThe condo board has the primary responsibility for managing all aspects of the condo on behalf of all of the owners. The condo board is usually elected for one or two years. Board members are rotated through the positions of the condo board. The condo board positions usually include a president, vice president, treasurer, secretary. Also any other special board members that may be required. An odd number of board members usually works best when it comes to a vote.

Their responsibilities are quite varied. However the main ones are to set a budget for the upcoming year for both the operating expenses of the condo and the reserve fund. Which is money to be set aside for all major construction and all major repairs. The timeline is over the next 20 years for the condo property and the building.

Additionally they have the responsibility to manage and hire the property manager. The property manager will implement and carry out all of the operations of the building. They also are responsible to report back to the owners collectively at an annual board and condo meeting. They report the status of the budget, the actual operating expenses. Also any special needs or issues that must be addressed or raised by any and all of the owners.

Condo Boards Role – Summary List of Responsibilities

The following is a partial summary list of all of the responsibilities that the condominium board will be accountable for:

  • Set a budget
  • Manage property manager
  • Monitor spending
  • Determine priorities
  • Call AGM
  • Resolve owner issues
  • Set reserve fund budget
  • Special assessments if needed
  • Gain approval for major projects
  • Interface with Owners and property Manager
  • Meet legal requirements for condo

Condo Board Size and Other Practical Issues

At a minimum there needs to be at least three members on the board. In addition the members of the board from a practical perspective need to hold the positions of President, Treasure and Secretary. The board members hold their positions for at least one year. They often will rotate through the positions if they are on the board for longer periods. Some condo boards will have added members on the boards. They will be there to represent various factions and have a variety of responsibilities on the board. There should always be an odd number on the board so that there is never a stalemate on a vote.

From a practical perspective it is often very difficult to get people to go on the boards of condos. As a result some people will remain on the board for years. This provides for lots of experience and for entrenched positions on various topics. Owners participate. Ensure that their investment is being properly managed. Occasionally new people will offer their services on the board. Elect new board members to replace the board.

Rotation of Board Members

Rotate board members on a regular basis. But never all of the board members at the same time. It is very helpful to have experience on the board. Particularly on large complex properties with a combination of rental units and owner occupied units. These situations represent a more complex arrangement. Sometimes require unique solutions for various issues that manifest themselves between tenants and owners. Often there will be two sets of property managers as well. Which further complicates the situation. One Property manager is responsible for the building and all of the common elements. While the other is responsible for the tenants and the interiors of the rented units.

Condo board members are never paid for their services. However any expenses that they might incur as a result of their duties is usually paid after submitting an expense form covering the cost and explaining what the charges are for. This is a pretty standard procedure with most condo boards.