Sunday, April 3, 2011

Why do your meetings take so long?

A condo meeting often parrots the second week of kindergarten; everyone feels comfortable enough to yell and yet does not want to share or back down.

A regular Board meeting should last no more than one hour. Period.

Run meetings with an iron fist. Create an agenda that is iron clad, and limit comments to a specific time period of no more than 10 minutes. Resist the temptation to address every single question and move the meeting along. Begin by approving prior Board minutes, addressing motions, comments on them and voting as the case may be. As the Board, it is incumbent on you to create leadership in the Association. Don't be afraid to do so.

Fiduciary Duty and Assessment Forbearance

An Association can settle a lawsuit against a delinquent unit owner without violating the ICPA prohibition on forbearing assessments. This is so because the Board is bound by its fiduciary duty and enabled by the ICPA to settle lawsuits, a power which trumps the forbearance prohibition. Think of the forbearance prohibition as one which really only applies to exchanging work or other value for assessment payment, but not something that prohibits the Board from settling delinquent suits.

Any questions, email me at dbuetow@frltd.com...