Friday, February 24, 2012

Condo Board of Directors

This week my condo transitioned from being run by the builder to establishing the Board of Directors. 

Being the Type-A personality that I am, I immediately put my hand in the air when the head of our property management company asked which owners would like to be considered as Board members.  About 15 minutes later I was appointed Board Member/Secretary.  Two other owners (both men in their 40's and 50's) sit on the Board as President and Treasurer. 

Why did I want to get involved on the Board of Directors?  I actually got the idea after reading this article last year on one of my favourite blogs, Toronto Realty Blog

By becoming part of the Condo Board I will now play a role in all decision making as it pertains to my condo building....for example, what rules/regulations will be put into place around visitor parking, I'll be one of the first 3 set of eyes reviewing our corporation's financials, when our contract for snow removal expires deciding where should we go next, etc. 

I have a feeling in this first year it'll be a quick learning curve....Reserve Fund Study.....Performance Audit.....everyday hiccups as we learn what works/doesn't work in this new building.  I'm excited to count this as one of my new "volunteer" projects!

Have you ever sat on a condo Board of Directors?  Any advice for me?!


  1. I haven't sat on any condo boards, but I could totally see why it'd be beneficial. My boyfriend owns his condo and his friend who lives in the same condo is a condo board members, it comes handy when you want to see some changes affecting the building. You're paying into the maintenance fees so why not take part in deciding how that money should be spent. Plus if you have pesky neighbours you can establish a rule to fine them or kick them out :p

  2. I am gonna apply to our board myself cause basically I can't stand all the stupid decisions anymore :-)