Proper governance is a heavy burden! Read this TLDR blog article and Decision-Making 101 for some tips to stay safely afloat.
Here are two recent musings to cross the wire:
It’s a lot of work to get a committee up and running…
Is it really necessary to break down reserve expenses and capital expenses separately?
Holding yourself, your Board and your management and staff accountable is challenging and not always popular. Doing what’s in the best interest of all your owners is not always the easiest path. Complicating this is the fact that, in all but the smallest CICs, the vast majority of homeowners do not understand the level of volunteer involvement required to facilitate an experience that ticks all the boxes for appropriate governance and keeps residents happy, and runs smooth operations, etc. A quick check of the Volunteer Involvement Survey reveals that 65% of respondents serve 16 or more hours per month.
Your CIC can avoid the need to litigate procedural errors and lapses in judgment by following your applicable statutes and governing documents. Doing so is not necessarily simple, but it avoids the need for assumptions and shortcuts. Leading your community with consistency, empathy, honesty, integrity, reason and transparency is the right choice. Always. Volunteer service often requires considerable time and it isn’t easy.