Duty of a Yardley Station board members
One essential, though sometimes difficult, priority for any Yardley Station Condo Association board member is ensuring that the community receives full value for the fees paid to the property manager. If the property manager is not delivering services as expected, the board must act transparently and take immediate steps to address the issue, including replacing the property manager if necessary. Failing to do so would be a dereliction of their fiduciary duty to the homeowners, undermining trust and the association’s financial health.
Condo association board members have a primary responsibility to serve the community, uphold fiscal responsibility, and ensure that all tasks, including the oversight of the property manager, are carried out effectively. If a board member is unwilling to fulfill this duty, they should consider resigning to allow for the appointment of someone who will prioritize the community’s well-being. If necessary, the board and/or the community may need to take steps to remove a member who neglects their responsibilities, as it’s crucial to maintain accountability and protect the interests of all residents.
BCPM has fallen well short of the contractual obligations and has satisfied grounds for dismissal and immediate termination. As trusted servants with the privilege to serve the YSCA community, board members are obligated to follow through with replacing BCPM. YSCA has financial liabilities and legal exposure imposed by BCPM and the legacy board that require the board to act immediately as a duty and responsibility to the community. Not taking initiative is not an option for a board member to remain as an active participant and the need to resign or be removed by community petition.
YSCA has been underserved, mismanaged, leaderless and has squandered money because of it. The boards duty and obligation is to protect the community from paying for services that are substandard and do not fulfill the contractual obligations made in the YS Management Agreement. Items A through C in the Management Agreement have been substandard, partial or not at all provided.
Having board members perform tasks of the Property Manager is not an option.
Statement on the Roles and Responsibilities of the Property Manager and the Board
To ensure the effective governance and management of our community, it is essential that both the property manager and the board of directors maintain their distinct roles and responsibilities. This separation is critical for the following reasons:
- Expertise and Knowledge: The property manager is required to be, or to find, the subject matter expert for any project or decision impacting the community. Their specialized knowledge in property management, including legal regulations, maintenance protocols, and financial oversight, ensures that decisions are informed, accurate, and in the best interest of the community.
- Operational Efficiency: Property managers are trained and experienced in the day-to-day operations of the community, such as coordinating with vendors, managing budgets, and addressing maintenance issues. This allows them to efficiently manage projects and resolve problems that may arise, ensuring the smooth running of the community.
- Objective Management: As a neutral party, the property manager can make unbiased decisions based on professional expertise and the community’s needs. This objectivity is crucial in maintaining fairness and transparency in the management of community affairs.
- Time and Commitment: Board members typically serve on a voluntary basis and often have other professional and personal commitments. They may not have the time, resources, or expertise to manage the detailed tasks that fall under the property manager’s purview.
- Strategic Focus: The board of directors is responsible for providing strategic direction and governance, focusing on long-term planning and policy-making. By concentrating on high-level oversight, the board ensures that the community’s goals and vision are met. Involvement in day-to-day management can distract the board from its primary responsibilities.
Responsibilities and Accountability
- Property Manager Accountability: It is the responsibility of the property manager to fulfill the duties outlined in the contractual management agreement. Failure to meet these obligations can adversely affect the community’s well-being and operations.
- Board Oversight: The board has a duty to oversee the performance of the property manager. If the property manager fails to meet the contractual obligations, the board must take appropriate action, which may include withholding payment or terminating the contract. This accountability ensures that the property manager remains effective and dedicated to the community’s needs.
Conclusion:
Maintaining a clear division of roles and responsibilities between the property manager and the board of directors is essential for the effective governance and management of our community. The property manager’s expertise in day-to-day operations complements the board’s strategic oversight, creating a balanced and efficient management structure. Ensuring that both parties fulfill their respective roles not only promotes the well-being of the community but also upholds the integrity and functionality of our governance system.