Many condominium owners are sometimes confused about the role of the condominium board. First time condominium owners often mistake the condominium board's function as the entity whose only purpose is to impose fines. Although condominiums have become more popular in the last 20 years, many people, including condo owners, are still confused about what are the role and duties of the board of directors.
However, persons moving from one condominium to another may also be confused. The reason for the confusion lies within the fact that may not be so obvious to someone who has not previously owned a condominium. Different condominiums operate under different declarations and bylaws. Each condominium has its own unique culture. Depending on the size of the condominium association, some of the board members may be in more frequent contact with residents and fellow neighbours on a daily basis. However the culture that develops and is established is not entirely something that occurs accidentally. It depends upon provincial law and the declarations and bylaws of the condominium association. Ontario is mandated under the Ontario Condominium Act.
The primary officers of a condominium board of directors are the President, Treasurer, and Secretary. Depending on the bylaws and declarations (and at the time they are written the number of units may be taken into consideration) additional officers would include a Vice President and Directors.
The board President's main responsibilities include setting agendas for the meetings, signing vendor contracts that have been approved by the board, and maintaining a close professional relationship with the association's legal counsel. The Treasurer's duties are comprised of reviewing the monthly financial statements and year end tax documents. Depending on the size of the association, the monthly financial documents are generated by a property management company or an accounting firm hired by the condominium association. The Secretary is responsible for taking meeting minutes and distributing them accordingly to all of the unit owners. Those are the very basic duties of a condominium board of director's three key officers.
There are many other responsibilities shared among a condominium board of directors, especially if the association does not hire an on-site manager. Those duties include overseeing building maintenance issues, meeting with vendors and various city inspectors, handling individual unit owner questions and concerns, upholding established rules and regulations, generating monthly financial and management reports, communication with owners regarding upcoming projects or changes in policy. Additional duties such as managing capital projects or steering such committees as landscaping or decorating are also activities that members who are a part of the condominium board participate in.
Many condominium boards are composed of accountants, engineers, and attorneys who are donating their time by serving as members. When asked what they thought their main function was, many of them said that they wanted to maintain the quality of their living space and protect their investment. That was a universal response, regardless of the association's or board's size.
