Although many boards have the required knowledge, level of commitment, and selfless attitude needed to handle things correctly, things do not always go smoothly. Even when the association has a management company, mistakes sometimes are made by board members, whom are the final decision makers. A lot of boards seem to face the same challenges in Florida and Illinois, below are the top 10 board member blunders as seen in both states.
- Putting personal needs ahead of the needs of the entire community.
- Firing a management company for all the wrong reasons.
- Blaming management and not having accountability.
- Avoiding long term capital projects.
- Not understanding their duties.
- Not reading or understanding the terms of the management agreement.
- Avoiding raising assessments.
- Saving money at the expense of maintaining the association.
- Having completely unrealistic expectations of the management company and vendors.
- Serving on the board when they have absolutely no business serving on the board.
If you would like to read more about the top 10 board member blunders, click here.