By-Laws. Establish detailed by-laws which will include specifications for the Association's Board of Directors, including the number of Directors, how they are appointed or elected, how they may be removed and how decisions are made by those directors.
Annual Membership Meetings. Schedule annual membership meetings and maintain detailed minutes of those meetings.
Regular Board of Director Meetings. Convene regularly scheduled Board of Directors meetings to discuss association business, homeowners concerns and financial matters. Retain detailed minutes from those periodic board meetings including notations as to whether a quorum is present.
Establish Written Policies, Rules and Goals. Every Association should establish clearly written policies , association rules and goals.
Creating Rules. When passing new rules, the association should offer homeowners an opportunity to be heard by providing advance notice of the proposed rule and the allowing homeowners to comment before it is enacted.
Communicate with Homeowners. Policies, rules and goals can cause confusion and resentment if they are not communicated in an understandable fashion to homeowners, new and existing. A method for delivering those policies and goals on a regular basis, perhaps through news letters or policy booklets, should be established.
Action Guidelines. Each association should have written action statements and/or guidelines on how the association will accomplish its goals and enforce its rules and policies.
Encourage Participation. Every Board of Directors should encourage participation from the association members to maintain the property and enforce rules.
Maintain Common Areas. Maintenance of Common areas is a benefit that should not be ignored by the association to ensure member satisfaction.
Insure Common Areas and Board. Be sure to provide adequate insurance for common areas and the Board of Directors liability.
Review Declaration and By-law language. Every townhome or condominium association should periodically review it s by-laws and declarations to ensure compliance with the changing law and to reflect the association's needs. An annual review is advisable.
Require Bids on Contracts. It is advisable for an association to require multiple bids on association contracts.
Establish Reserve Fund. Every association should maintain a reserve fund for repairs and maintenance issues.
Create Financial Reports. Create association financial
reports and make those reports available to any member.
Annual Budget. Create and Publish an annual Budget including any potential anticipated costs.