One may describe the Condo Board as the backbone of the Condo Corporation, but how exactly do selected individuals come to join the Condo Board of Directors, and what duties are they responsible for?
At Tribe Management, we are on a mission to educate and empower Condo Board members and residents about Property Management in Canada. We have compounded the most frequently asked questions and are taking the time to create valuable content for our readers.
Or check out the Alberta Condo Board Guide to Success instead.
In this article, we will unpack the various roles and responsibilities within a successful Condo Board of Directors and offer our reasoning on how partnering with a Property Management company benefits your Condo Board.
Let’s get started!
Before we enlighten you on the roles and responsibilities of the Condo Board of Directors, let's quickly go over the term “Condo Board” to ensure we are all on the same page.
The Condo Board of Directors is a group of owner-elected volunteers within a Community who run and oversee the day-to-day operations of a Condo Corporation. This group of individuals is voted in by a majority of members of the Condo Corporation. The purpose of a Condo Board is to ensure the standards of the Condo’s building management and its financial assets are protected.
If you would like to learn the difference in duties between a Condo Board and Property Management company, please read our article “Roles and Duties of Property Management Companies vs. Condo Boards”
Each Condo Board member holds a common interest – to make sure all members of the Community are being heard and that common issues are being addressed.
Please note, that when we say Community, we are referring to the Condo Corporation.
While the size of a Condo Board can range depending on the size of a Community, you will typically see a Condo Board consisting of 3-5 members.
This appointed person oversees the business and affairs of the Condo Corporation and is responsible for the successful operation of the Community. The President and the Condo Board as a whole are responsible for setting the meeting agenda, maintaining order and keeping the discussion on topic and, of course, general supervision of the business and affairs of the condo corporation.
The recipe for a successful Condo Board President is impartiality, transparency, leadership skills and being a great collaborator. A president must collaborate with various people (and personalities) daily. This person must not be afraid to delegate tasks or mediate when disagreements arise (as we all know, this will happen).
Yes, it’s a big job to be a Condo Board President, but someone must do it!
In some cases, Condo Boards also have an appointed Vice-President. This person is responsible for taking on the President's duties in their absence and helping to alleviate the responsibilities of the President (as the President usually has several projects on the go)
In some cases, the Condo Board of Directors also has an appointed Vice-President. This person is responsible for taking on the President's duties in their absence and helping to alleviate the responsibilities of the President (as the President usually has several projects on the go).
Not surprisingly, the president often has a lot on the go, so to help lighten the load, the vice president will take on additional tasks and responsibilities as needed. (These folks are the real MVP)
An effective vice president should be adaptable, and coordinated, and must possess strong time management skills because their role is most likely to deviate from day to day as they take on a variety of projects.
As you can imagine, this person is responsible for overseeing the management of the finances within a Community as the financial health of a Community is vital to all its residents. Finances include accurate financials, balancing the budget, managing the reserve funds and taking care of invoices.
The Treasurer is the one most involved in preparing the budget draft, which is then reviewed, adjusted, and approved by the Condo Board of Directors. No one wants to see their monthly payments increase, so the Treasurer must keep a close eye on the monthly expenditures.
Note: Preparing a realistic budget is essential.
The recipe for a successful Treasurer is strong attention to detail and experience working with finances is not mandatory but nice to have.
This detail-oriented person is the custodian of the building's records. The secretary is responsible for taking minutes at meetings (although they may not be the one who takes them) and for notices sent to residents for the annual general meeting.
Please keep in mind that the meeting minutes are public documents, and due to this, the minutes MUST be recorded accurately.
The secretary's other responsibility is to document the actions of the Condo Board meetings in the minutes and distribute them to the Condo Board for approval. Once approved, they are made available for those who require them for reasons such as insurance, mortgages, real estate transactions, legal reasons, etc.
The recipe for a successful Secretary is finding someone who is accountable, organized, and perceptive.
Or check out the Alberta Condo Board Guide to Success instead.
It is not mandatory to hire a Property Management company to look after your Community and assist the Condo Board of Directors, but it helps greatly!
The Property Manager (or Community Manager as we call them at Tribe Management) works on behalf of a group of owners to protect their collective investment (I.e., an entire Housing Corporation or Condo Corporation), which is made up of a group of individually owned units. Community Managers are hired to oversee the day-to-day operations of a Community, such as building maintenance, administration, finances, etc.
Learn more about Property Management and working with a Property Management company with our Property Management – what is it anyway? +Infographic
The Community Manager attends Condo Board meetings and acts as an advisor to the Board as they set policies, manage the common property, facilitate the amendment of bylaws, collect monthly rent and MUCH MORE. The Community Manager is responsible for implementing the decisions of the Condo Board that are made during meetings.
The recipe for a healthy relationship between you and your Property Manager is ensuring you and your Condo Board know exactly what you require from your Property Manager, i.e. You can accurately articulate your needs and action items. Doing so will foster a long-lasting and fruitful relationship.
While the Condo Board controls the day-to-day operations of a Condo Corporation, they are limited in their powers. Condo Boards ensure the corporation (and its financial assets) are secured and well-maintained on behalf of all owners, future owners and residents of the building, but they do not have power over the following:
This is a common misconception, but the President holds the same power as any Board member. Each board member has equal authority on items that require the board's attention. While it is common for the President to lead the Condo Board meeting, it is not mandatory.
No, the Condo Board is completely made up of owner-elected volunteers within a Community. No one on the Condo Board is paid - this is an extracurricular activity for owners.
Existing Board Members cannot be fired from their position – this can only happen if a specific bylaw exists within a Condo Board to do so. The most common way of letting go of a Condo Board member is by voting them out with a majority vote from the Condo Board.
Thank you for reading! We hope you now feel confident explaining the roles and responsibilities of the Condo Board of Directors the next time someone asks you (we promise we won't take the credit 😉).
Before we say goodbye, please remember that the Condo Board is a volunteer position taken on by the residents of a Community, so make sure to keep all interactions friendly and professional; this creates a safe and suitable environment for everyone involved.
At Tribe, we care for our Communities like they are our own homes. Property management is our expertise, and we are here to support all your needs.
If you are interested in learning how a Community Manager can help your Community, we'd love to answer any of your questions about utilizing a Property Management company. Contact Tribe Management Today!
Or check out the Alberta Condo Board Guide to Success instead.