It is well known that Association Board members (directors) have fiduciary duties to their unit owners and associations. It is almost as commonly known that the officers have the same fiduciary duties.  Yet associations, directors and officers are often sued for failing to meet their duties. Unfortunately, directors and officers often contribute to their risk by doing things that enhance the likelihood of suit. For fun I thought I would write this post from that standpoint.
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My points below exaggerate problems that I commonly see, but the advice is sound:

  1. “Are your three brain cells still talking to each other?” Knowing how to deal with difficult people is a prerequisite to property management. Don’t aggravate a situation by making a challenging person even more difficult to deal with – this won’t solve the problem. Attempt to always maintain a professional, positive attitude. We all fail or become less than we want to be at times. Forgive yourself and others, but even in forgiveness bad actions by unit owners have consequences.
  2. “This is the insurance company/policy you should approve.” Property managers are usually not licensed insurance brokers or agents, and their recommendation may be wrong. Does your association insurance cover you for those types of opinions if they are wrong? Property managers can certainly identify options.  However, the Board, ideally on the advice of an insurance committee, should be deciding on the amount and types of coverage purchased.
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