Each spring when weather begins to warm up, residents eagerly anticipate breaking out their swimsuits, while at the same time condominium and homeowner association boards begin to expedite opening community pools. Ever present in the minds of those tasked with this job, are the possible unexpected delays and problems that have the potential to derail the best laid pool opening plans.
Have you been wondering how having a golf course in your community affects your reserve study? Should you include it in your master study? Or should courses be treated as a separate entity? For this topic we reached out to Peter Miller, RS of Miller+Dodson Associates, Inc., a nationwide consulting firm based out of Annapolis, Maryland. Miller has been working with reserve studies since the 1980s.
It’s something every manager strives for and every resident demands — curb appeal. Maintaining it is one of the board’s fiduciary duties. But what happens when those flower beds, pathways and rolling hills turn into mud, ice and standing water? What if these problems pop up unexpectedly for no apparent reason?
When a homeowner decides to serve his or her association as a member of the board, that person has a fiduciary duty to act in the best interest of the community. So, what exactly does a board’s fiduciary duty entail? According to Attorney Stacey Patterson of Ansell Grimm & Aaron, PC, with offices in White Plains New York, Woodland Park New Jersey and Princeton, New Jersey, “fiduciary duty is the responsibility of the board members to ensure sound and proper operation and control of its community and to act in its best interest.”