The annual homeowner meeting convenes. The president announces that the floor is open for nominations. Fellow homeowners say to you, "You know, you would make a good board member." Before you have a chance to reply, some body movement indicates that you are willing, ready and able to serve. "The nominations are closed," a vote is taken, and suddenly you're on the board! What does being on the board mean? Who is going to teach you? How much does it pay?

What does it mean to be on the board of a homeowner association? You have made a commitment that you will serve the HOA's interests to the best of your ability, be fair on matters that come before the board, do your best to preserve and enhance the value of the members' property and spend money in a prudent manner. Being a director also means that you have the duty to make informed decisions. That means that if you do not understand something, you get good information, counsel and advice before making a decision.

Who is going to teach you? Hopefully, you have several veteran directors on the board who will help you. Ideally, you will have the property manager who works closely with the board and is willing to offer guidance. Ask questions.

How have issues been handled in the past? Current boards should carefully consider plans laid by previous boards and not change them impulsively. Take time to become familiar with the HOA common elements. Review the governing documents, the rules and regulations, and other board policies to develop a familiarity with them. Keep a set handy for when specific questions arise.

Attend all board meetings. Make a commitment to attend all board meetings and come prepared by studying the agenda and related material in advance. There generally aren't many meetings and each deals with critical issues. Give them your full attention.

Serve on the Budget Committee. Budget review time offers an opportunity to help build a sound financial future for the HOA. The two basic parts of the budget are Operating (deals with routine maintenance and expenses) and Reserves (long range, major repairs and replacements). The Budget Committee will be asked to review and forecast future financial needs by using both past budget history and new information accumulated for future repairs. This forms the basis for fees charged and is an extremely important task.

How much does the job pay? Zero. While no money is paid, there are personal rewards to be had for a job well done. Dealing with people requires patience and flexibility. Remember that while disagreement is not always avoidable, you were elected to make decisions. Consider carefully those decisions put before you and do your best. If you serve as a committed board member, it will be one of the more rewarding experiences that you will have.

For more innovative homeowner association management strategies, see Regenesis.net.

Published: March 17, 2010

Use of this article without permission is a violation of federal copyright laws.

Richard Thompson owns Regenesis, a management consulting company that specializes in condominium and homeowner associations. He is a nationally recognized expert on HOA management issues. Regenesis publishes The Regenesis Report, a monthly newsletter for HOA boards, developers and managers. To subscribe, go to Regenesis.net. He can be contacted by email at .