HOLLYWOOD, Fla. – (December 2, 2016) – Serving on the board of directors of a community association, whether it is a condominium or homeowners association, entails specific responsibilities for directing management of the property and adhering to all applicable laws, rules, covenants and policies. As the end of the year approaches, the time is right for anyone serving as a board member to evaluate the association’s current standing, review bookkeeping records and plan ahead for the coming year. Jed Frankel, partner with Eisinger Law, offers his top five suggestions for recommended best practices community association directors would be wise to follow before year-end.
- Review all contracts and identify those that may be expiring in the new year. Carefully review all contracts with automatic renewal provisions.
- Review association constituent documents for consistency with new laws passed by the Florida Legislature and/or cases decided over the last 12 months.
- Ensure unit owner files and rosters are updated to account for new unit owners and for changes in address of existing unit owners.
- Review insurance policies to make sure they are up to date and in effect with all premiums paid. Schedule meeting with insurance agent, if necessary.
- Schedule meetings with the association’s attorneys and accountants to review the prior year and make recommendations for the coming year.
Association officers and directors sometimes are unclear as to their roles, responsibilities and liabilities regarding the association’s governance. If they have not already done so, now is the time to understand their responsibilities and make sure they are prepared to carry them out in the new year. If necessary, they should consult with the association’s management, attorneys and/or accountants.
Jed Frankel is a partner with Eisinger Law and focuses his practice on community association and dispute resolution. He can be reached at email@example.com or 954-894-8000. For more info visit eisingerlaw.com or facebook.com/EisingerLaw