Few people want the challenge and responsibility of serving on a condo board. Those willing to accept this responsibility and challenge understand the importance of this voluntary role to the proper management of their home.
Many condo corporations are challenged to find a large enough pool of qualified and interested candidates to serve on their board. Once these capable people are found, it makes little sense to reduce the pool of qualified and interested candidates by creating term limits.
Term limits provide no value to condo corporation governance. Rather than establish term limits, it makes more sense to encourage more people to participate in the governing of their condominium corporation by running for election to the board.