members to join committees. And, of course, committee participation may identify future board members.
Many associations start out with the professional management offered by the builder/developer of the community. Declarations oftentimes provide for a management company to act on behalf of the builder- developer of the community until the build-out of the community and/or transition of governance from the developer to the association board. Thereafter, the management company may continue at the will of the board or, for the reasons mentioned earlier, the association may opt to self-manage. Communities are free to flip-flop—and they do—from being professionally managed or self-managed. There are many reasons for this evolution. Without much work to be done in a new development, except for basic accounting to collect assessments and pay utility and repair bills, or arranging for snow management and landscaping, the association may decide it can manage itself with the volunteers available to take on such tasks. And, as long as the board remains realistic about reserves and vigilant of the work being done, effective management, as well as a great deal of pride and satisfaction, can be achieved. But what happens when board members change, maintenance becomes more complex, goals become obscured, results are compromised and residents are generally dissatisfied? Is that the cue to switch to a business relationship with
professional management—that can be easily dismissed for poor performance—and enjoy the attributes of a normal competitive marketplace?
VOLUNTEERISM IN COMMUNITY ASSOCIATIONS CAN BE A WONDERFUL EXPRESSION OF MAGNANIMITY FROM THE VOLUNTEER. BUT FOR A BOARD MEMBER, THE ULTIMATE VOLUNTEER, IT IS A CHOICE
AVAILABLE TO MEET THE CHALLENGES OF GOVERNANCE—WHICH BRINGS US BACK TO THE TITLE OF THIS ARTICLE.
CUSTOM RESERVE STUDIES
Knowing your goals. And the most effective way to meet them.
At Reserve Advisors, we understand that no two reserve studies are ever the same. Which is why we always start at the same place – with you. We begin with a blank slate and then build a reserve study based on your special requirements.
Ask us about ForeSite™ and how it enhances your study.
For your no-cost proposal, please call Monica Mack at (800) 221-9882 or visit
reserveadvisors.com
52 | COMMON INTEREST® A Publication of CAI-Illinois Chapter
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