Email Mike Email
Residential Real Estate
Sep 12, 2019

What’s in Your Board Member Toolbox?

Sponsored Content provided by Mike Stonestreet - Co-Owner/President, CAMS (Community Association Management Services)

Serving as a board member of a homeowners association (HOA) can be an incredibly valuable and rewarding experience. That said, it is serious business as there are of responsibilities associated with protecting a community's assets and making it a great place to live.
 
For an HOA board to effectively serve  its members, board members need to demonstrate calm judgment and commitment to the best interests of the community, along with a willingness to serve. Board members regularly interact with a myriad of professionals, ranging from attorneys and CPAs to engineers and community managers. Integrity, character, experience and people skills are important pieces of the puzzle.
 
In addition to making important decisions regarding managing the funds of a community in order to  maintain common areas and other expenses of the association, enforce rules, and carryout other responsibilities of the association based on the governing documents, HOA board members are expected to provide leadership in building the social and civic well-being of their community. The most effective boards promote civic pride and shared responsibility among neighbors, leading to a reduction in the amount of rules violations, delinquent assessments, and other administrative issues negatively impacting community associations.
 
One of the number one roles we have at CAMS is to professionally guide our board members. We have been in the  professional community association management industry for almost 30 years and have vetted best practices in many areas of community association management that we can share. We work to ensure fluid communication between community managers and board members, and community managers attend board meetings regularly.
 
There are a plethora of resources available to board members to assist them in doing their jobs efficiently. First and foremost, the HOAs governing documents — Bylaws, Declarations, Operating Rules, and Articles of Incorporation (among others) — are legitimate, legal materials that explicitly state what a governing body (the board) can and cannot do. Some governing documents are recorded in the county's Register of Deeds and the Secretary of State.
 
In our years of experience, we have found that the strongest HOA boards start with a serious focus on job descriptions, roles, and responsibilities as areas of importance. If you are serving on a board, you should fully understand your job requirements and fiduciary responsibilities. The roles and authority of the board and board members are outlined in the bylaws, declarations, articles of incorporation and in the community association’s state statutes.
 
We’ve also seen some common misconceptions of what board members are empowered and supposed to do. Members may nominate themselves or others in the community to run for board elections to serve on the board due to a specific topic or platform they feel strongly about, even if the individual running may not have the right combination of experience, availability or best interests of the community as a whole in mind.
 
Some board members don’t understand that their fiduciary duty is to the association (not the members) and they need to make decisions about what is best for the association. Many find it difficult to separate these decisions from their own personal opinions on issues, or from what might work best for them or a group of members.
 
We maintain a section of our CAMS website specifically for individuals joining HOA boards. This provides access to information covering the basics of association living, how a typical HOA board works, examples of governing documents; and resources including:
 
* A web portal
* Educational articles on how to become an effective board member
* Samples of financial reports
* Information on how insurance relates to HOA communities
 *Budget preparation guidance
 
Information, tools, and resources — from CAMS or other well-respected organizations like the Community Association Institute — are readily available for board members and officers eager to understand the many issues, expectations, and challenges that come with being a successful board member and officer.

Mike Stonestreet is a 30-year veteran of the professional HOA management industry who has achieved one of the highest education-based designations in the field, that of Professional Community Association Manager (PCAM). Community Association Management Services (CAMS) has been a leading association management company since its inception in 1991. CAMS is a trusted provider of management services, dedicated to holding themselves to a higher standard of service to the community associations they serve throughout North Carolina and South Carolina. To find out how CAMS can benefit your community or visit www.CAMSmgt.com.

Other Posts from Mike Stonestreet

Cams300pxx250pxblockadjune2018[1]
Ico insights

INSIGHTS

SPONSORS' CONTENT
Hewet60

Stress Can Work For You

Ron Hewett - Academy Leadership
Carolinemontgomery4

Found Money: Tax Extenders And Disaster Relief

Caroline Montgomery - Adam Shay CPA, PLLC
Chris coudriet

Sewer And Water Along 421 Creates Corridor Primed For Growth And New Jobs

Chris Coudriet - New Hanover County Government

Trending News

ILM Lands Boston Flight, Reaches 1M Passengers

Christina Haley O'Neal - Jan 14, 2020

Local Firm To Be Considered For Redevelopment Of Government Center

Cece Nunn - Jan 15, 2020

Big Sky Design Moving To Oleander Drive

Cece Nunn - Jan 14, 2020

Developers Plan Modern Industrial Building In Pender

Christina Haley O'Neal - Jan 15, 2020

Wrightsville Beach Brewery Plans Facility In Leland

Jessica Maurer - Jan 15, 2020

In The Current Issue

Packaged For Generations

Family firm Atlantic Packaging is putting the final touches on its newly expanded headquarters and opening a new location this month. ...


Working As A Husband-and-wife Team

The Wilmington business owned by husband and wife Devin and Brooke Skipper began with Devin as the sole employee about eight years ago befor...


A Matter Of School Days For Tourism

Although the school calendar is staying the same for now for New Hanover County schools, it’s an ongoing issue that tourism and educators gr...

Book On Business

The 2019 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WILMA Leadership Accelerator
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`