A condo association trustee for a small condo association has various responsibilities including repairs, financial duties, collecting and setting fees, and writing and enforcing by-laws. Associations are often run by a board of trustees but can also be run by board members who work to resolve issues and ensure the proper maintenance of the properties to keep the property value as high as possible.
Responsibilities of a Small Condo Association Trustee
Roles for Condo Association Trustees
In a small condo association setting the major roles are the president, the treasurer, and the secretary although sometimes one person will take on two or three roles. The president is mandated with calling and conducting meetings which must be held at least once per year. The secretary takes the association’s minutes and the treasurer has the duty of managing the financial aspects of the condo association.
Condo Association Meetings
It is a requirement of the Condo Association Trustees to hold meetings. In these meetings, the members meet to elect new persons to play the roles of the president, secretary, and the treasurer or any other position as stated in the condo association’s by-laws. The meetings also serve as an opportunity to set and vote on the yearly association budget and monthly dues. Association meetings must occur at least once every year, although it is recommended to hold them more frequently. These meetings are beneficial in helping resolve conflicts that could arise within the members of the association and between neighbors. After every meeting, the notes and the minutes are distributed to all the board members and owners in the association.
Condo Association Fees
The trustees are mandated with the task of setting and collecting fees from the home owners. The small condo association has an association fee that is submitted monthly to the association by each property owner. These fees are used to cover the costs arising from things like maintenance of the lawn and plants, snow removal, window washing, re-painting siding, etc. Some of the fees go to the reserve of the association to be used for established important projects that may arise in the future such as replacing roofing.
Finances in the Small Condo Association
The condo association trustees have a duty to monitor the finances of the association. These include paying for the bills and maintaining detailed records of any payments or expenses of the condo association. The trustees are also given the task of deciding on the contractors to hire for repairs and how much the association is willing to pay for these services.
Condo Association By-Laws
Enforcing and updating the association by-laws is an important job mandated to the trustees. The by-laws must state clearly the responsibilities of the home owners and the trustees. Mostly, the association is responsible for the common areas such as parking, playgrounds, and outside walls of buildings; homeowners are responsible for the inside maintenance of their homes. The condo association may transfer some responsibilities to the home owners to avoid disputes and financial strain within the association.
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