HOAleader.com - Tip of the Week - May 1, 2009
Published: Fri, 05/01/09
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HOA Governance: Don't Play Favorites
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This week's tip comes from our brand-new special report:
49 HOA Management Tips:
Tips and Best Practices for Homeowners Association Boards
http://www.hoaleader.com/members/271.cfm
Members (and trial members) can download the report for free now.
Not a member yet? Sign up here:
http://www.hoaleader.com/details.cfm
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Board members have a fiduciary duty to act in the best interest
of the association, and acting without consulting the rest of
your board may be a violation of that duty, says Nancy Polomis,
a partner at Hellmuth & Johnson PLLC in Eden Prairie, Minn.
"Board members must remember that they must always act as a
unit--no individual has the authority to make decisions
independently," Nancy explains.
"Homeowners, however, don't always appreciate this fact.
Often--particularly when an association is self-managed--
homeowners will contact a board member to seek assistance on a
particular issue. If you're contacted, advise owners to submit
their concerns in writing to the board for consideration."
As a board member, you should avoid telling an owner that you'll
"go to bat" for them or champion their cause because it may
create discord if the board acts in a manner contrary to the
homeowner's position. It also calls into question whether
you're, in fact, acting in the best interest of the entire
association.
Best regards,
Matt Humphrey
President
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Recent articles posted at HOAleader.com:
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HOA Meeting Minutes: How To Create Trouble For Your Condo or
Homeowners Association in Less Than 60 Seconds
This week's tip comes from a new article on how to avoid
creating trouble for yourself with your HOA meeting minutes.
"Minutes are a wonderful place to get into a lot of trouble in
your corporate operations," says Robert L. Tankel
Click here to read full article:
< http://www.hoaleader.com/public/270.cfm >
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HOA Meeting Minutes: When Does Added Detail Become TMI?
Do meeting minutes need to be transcription-like, recording every
utterance made during association meetings? Or is that TMI--too
much information? Or is it better for minutes to be a simple
summary of the major actions taken at homeowners association
meetings? Here's your answer.
Click here to read full article:
< http://www.hoaleader.com/members/269.cfm >
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Owners in Your HOA Financially Pinched? How Can You Improve the
Odds They'll Pay Your Dues and Assessments?
Many HOAs are concerned that
homeowners won't be able to--or will decide not to--pay
HOA dues and assessments because of financial troubles. Here are
a few ideas from some HOA board members we spoke to that might
help.
Click here to read full article:
< http://www.hoaleader.com/public/268.cfm >
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HOA Insurance: How to Be Certain Your HOA Isn't Underinsured
This week's tip is taken from a new article on avoiding HOA
insurance mistakes.
Click here to read full article:
< http://www.hoaleader.com/public/267.cfm >
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HOA Members Reveal Their Biggest Fears
Hands down, the biggest worry that keeps association members
awake at night is their fellow homeowners' continued ability to
remain current on association fees, according to HOAleader.com's
informal survey of homeowners across the country.
Click here to read full article:
< http://www.hoaleader.com/members/266.cfm >
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