17 Feb Understanding Roles Of The HOA Board
You should think of your homeowner’s association as the cornerstone of your Florida residential community. The purpose of having a homeowner’s association is to preserve the architectural integrity of properties within the community and maintain common areas. If association management is handled well, the HOA will help to create a sense of community and benefit property values.
In order for a homeowner’s association to function well and serve its purpose, the roles of the HOA board members need to be clearly understood. Outlined below is an overview of the officers and directors that make up an HOA board:
Board of Directors
It is the responsibility of the board of directors to maintain common elements within the community as well as handle business affairs related to the community. Association management must be conducted in accordance with the standards that have been outlined in the community’s governing documents. Members of the board of directors serve with the community without pay unless stated otherwise in the bylaws.
Officers of the Homeowner’s Associatio
The president of the homeowner’s association essentially serves as the chief executive officer of the community. This officer is responsible for presiding over HOA meetings and signs contracts, orders, and other documents on behalf of the association.
The president of the HOA is also responsible for handling day-to-day administration for the association and serves as the spokesperson for the community. Because the president serves as the will of the board of directors, he or she can be removed from the board at any time if the majority of the board agrees.
The vice president has the power to carry out the duties of the president in the event of the president’s absence. Typically, the vice president will chair one of the HOA’s committees, such as the architectural committee.
The secretary is responsible for keeping records of every HOA meeting and is serves as the custodian for most of the association’s official records. The secretary also is responsible for ensuring that members of the HOA are able to access these records if needed.
The treasurer is responsible for handling the funds and financial records of the HOA. If an association management company is assisting with the funds, the treasurer is responsible for making sure that the management company is accurately maintaining the financial records.
All HOA board members are responsible for acting in good faith and in the best interests of the members of the community. They also share a fiduciary responsibility to exercise good care and diligence when acting on behalf of the community.
HOA board members carry many of the same responsibilities and duties that business owners have. While it’s very rewarding to have the opportunity to serve on an HOA board, it’s not a role that should be taken lightly.
Our residential association management company has been partnering with Florida HOA communities to help relieve board members of some of their responsibilities and ensure that the community is well-run. Please contact us at Vesta Property Services to learn more about the benefits that we can offer to your Florida HOA community.