Responsibilities of a Condo Board of Directors
Being a board member is a great opportunity to take an active role in your condominium community and be surprisingly rewarding.
Good governance should be a key objective that all Condo Boards strive for. Owners elect a Board of Directors to oversee the business affairs of the condominium corporation. The day-to-day operations and administration of the corporation are often delegated to the property management company. A condominium’s bylaws govern how the condominium corporation is run. Rules, often referred to House Rules & Regulations focus on the day-to- day concerns of condominium living and vary from condominium to condominium.
These rules may be very strict or very relaxed depending on the nature of the corporation, but they help ensure that the condominium is a safe, pleasant and attractive place to live. Rules also spell out what the rights and obligations are as an individual owner. The Condominium Property Act is the provincial legislation that sets out what matters can be covered by bylaws, and sometimes the rules. All bylaws and rules must be consistent with this legislation. If you are looking to join the board of directors, you should be prepared to meet regularly to conduct condominium business.
Meetings typically occur once a month, though they can happen more or less frequently. The board of directors must ensure the corporation is run in compliance with the Condominium Property Act. A Board is typically comprised of 3 to 7 members that are elected by the owners at the Annual General Meeting. Terms are generally outlined in the bylaws and quite often, terms are 1 year. Consideration should be given to staggering the appointment of new members to achieve terms from 1 to 3 years, so that no more than half of the Directors are being replaced or re-elected in any given year. This assists with succession and the transfer of knowledge to new board members.
Emerald Management & Realty, Ltd., a Calgary-based company, provides condominium management services in addition to their services provided to rental property investors who own apartments, single-family homes, commercial buildings, and single-unit condos. Recognized for its effective management style, Emerald Management & Realty, Ltd., oversees all building functions,including the administration and operations duties of condominium corporations in collaboration with condominium boards of directors. Please contact us
for more information about the condominium management services we provide to Condominium Corporations to condos located in Calgary, Airdrie, Strathmore, High River and Canmore, Alberta.