Board of Directors Incentive (or lack thereof)
Updated: May 13, 2022
Based on some recent commentary from some homeowners in the community, the Board wanted to do a quick post on board member incentives (or lack thereof).
There may be some misconceptions that being a member of the board yields certain perks. To clarify this, a board member is a purely volunteer-based position. No compensation, discounts, or any special treatment is applied to any member of the board. They are as equal as any other member of the community when it comes to association dues, approval processes, and abiding by the rules and regulations (this also includes fines for rule violations!).
As a fiduciary, the board is required to make decisions that are in best interest of the association and community as a whole. Sometimes the board must make tough decisions regarding additional expenses homeowners may incur. To emphasize, the board incurs the same expenses the rest of the community does. No special treatment occurs.
Try to consider these aforementioned points if getting frustrated with certain Board decisions. The Board is looking out for the best interests of the entire community, and these decisions affect us all equally.