WHEN THE GOING GETS TOUGH By Eric Glazer, Esq.
WHEN THE GOING GETS TOUGH
By Eric Glazer, Esq.
It has always been difficult to get volunteers to be on the Board of Directors. Even when times are good and the building has made repairs and has some money in the bank, you can never count on owners to volunteer their time for a position where on their best day they will be second guessed and criticized. It’s always touch and go as to whether an election will even be required in most condominiums because there won’t be enough volunteers. Maybe it’s because the job doesn’t pay too much.
Well, if you thought it was hard to get volunteers for the Board before, you ain’t seen nothing yet. Members of Boards starting in 2025, and perhaps some Boards getting a jump on the new laws know that they certainly won’t be winning any popularity contests by serving on the board, especially when they prepare the association’s annual budget. These new Board members will be the ones who have to tell the members of the community that their monthly assessments are about to skyrocket due to:
- Mandatory Phase One Inspections;
- Probable Phase Two Inspections;
- Massive required repairs in order to pass the 25, 30, 40 or 50 year inspections;
- The full funding of a reserve account based upon a structural integrity reserve study;
- The fact that reserves can no longer be waived.
- Massive Increases in the association’s insurance.
These board members will need to sit behind barbed wire and Police “Do Not Cross” tape during the budget meeting. They will probably want to be escorted to their units after the meeting by security. Bottom line is they are going to be facing hostile crowds.
Let’s say they make it back to their unit and still wish to remain on the Board. Now the fun begins. These board members will have to hire the architects, hire the engineers, hire the contractors, make sure the repairs get made and pay all of the association’s massive bills. They may also have to negotiate a loan from a local bank so that everyone doesn’t have to come out of pocket for all the repairs. Of course they will also still have the usual responsibilities of Board members such as attending meetings.
So who in the world is going to want to serve on the Board in 2025 when all of these new laws go into effect? Why would anyone stick their neck out so far? Well, if you were always a board member, you may not be scared of the responsibilities to come. On the other hand, if you were shy of becoming a board member before, I don’t doubt that you’re going to remain the same and stay away. It’s going to get tough ladies and gentlemen. But will the tough get going and make the association’s Board the best it can be?
