All JOKES ASIDEÖ
Published April 3, 2019
While today may be a day of jokes and foolish
videos, living in an association is no joking matter. In my
experience, you have owners that really donít understand what it
means to live within a community and the impacts it can have on
them. Many owners believe that they can elect a Board and fall into
the ďout of sight, out of mindĒ mentality but thatís a HUGE mistake.
Why? Because the board members you elect have many responsibilities
and if you donít keep a close eye on what they are doing, things can
quickly go south.
I understand that most owners donít have the time
or energy to keep up with association matters but today I will do my
best to educate you on how, with just twenty minutes a month, you
can get a high-level view of your community and avoid being one of
those associations that come out on the news.
Step 1: Review the Monthly Financial
statements Ė (Time: 10 Ė 15 Minutes) The financials can give
you a clear understanding of the health of your community. As a
member, you will want to know how much money you have in the
operating account each month, how much in reserve account
(hopefully you have reserves), delinquencies (what owners
owe), are you staying within the proposed budget for the year
and review what checks are being paid out and to whom.
Step 2: Review Previous Meeting Minutes Ė
(Time: 5 Ė 10 Minutes) While I believe it is best to attend
board meetings, I know that many owners canít because of their
personal life commitments however you can always get a snapshot of
your boardís decisions, or lack of, by reviewing the minutes.
Within these minutes you will want to see what proposals are being
approved, what decisions are being made, is the manager providing a
monthly report, are projects moving along or staying stagnant and
most importantly are board meeting being held.
As a reminder, as of January 1, 2019, an
association with 150 units or more shall post digital copies of all
the items specified above on the associationís website.
This isnít a failproof plan; however, by
following these two simple steps each month you can determine if
things are going well in your association or if you need to dig
deeper. Remember that you own a piece of this non-profit
organization, and itís up to you to keep an eye on what is going
In closing, I would like to thank both Jan
Bergemann and Eric Glazer for giving me the opportunity to exercise
my opinion on this Blog. Thank you both for your vote of
confidence. Iím looking forward to participating and educating
today and tomorrows future association members.