Did you know that your condo, townhouse or single family home in a planned unit development is a nonprofit corporation?
Your board of directors has the same responsibilities and fiduciary duties as any corporate board of directors. The difference is your board consists of volunteers whose careers rarely fall in the demographics of operating a multi-million dollar corporation. That’s where your certified manager comes into play. The volunteer board members in your association need professional guidance on issues such as:
The reasoning behind reserve funding
How and why to avoid deferred maintenance
Adequate insurance coverage
The Davis-Stirling Act and other laws that govern homeowners associations
4030 Spencer Street #104, Torrance, CA 90503