Condo Board Conduct
Condo board members are running a business. They are responsible for managing assets, revenues and expenses. There is also a fiduciary duty to their shareholders. Simplified, this means placing the interest of the community above all other interests including their own.
When first elected as a director for a condo board, many have little idea of what this involves other than a general obligation to help manage the corporation. For others becoming a board member may be a way to achieve a specific agenda such as parking improvements, rules about pets or dealing with trash concerns.
In managing the condo corporation, a director should not bend or break rules. Bylaws and rules are expected to be followed equally by all.
- Board members should not be break bylaws or rules for reasons including convenience, compassion or personal interest.
- Board members do not have authority to make decisions without approval of other board members. Individually, board members are unable to give approvals to other residents without first consulting other board members.
- Anything discussed in board meetings not in the meeting minutes should remain confidential.
When board members are found to be abusing their authority the problem can often be traced to apathy among residents. Within