Attending a condo board meeting is one of the best ways to gain insight into the management and operation of your condo community. The state of Illinois mandates that at least four board meetings and one annual meeting be held each year for HOAs and common interest communities. By attending them, you can expect to learn a host of information related to the financial health of your association and any future goals the board has planned for the HOA’s shared property.
What to Expect When Attending a Condo Board Meeting
While any unit owner has access to board meeting minutes, attending a board meeting in person can give you real-time insight and context into the conversations and concerns the board must address.
Here’s some of what you can expect to learn by attending a board meeting for your Chicago condo association.
- The state of the association’s finances – By living in a condo community, unit owners must contribute to the collective financial well-being of the association, so it’s in your best interest to know how this money is being allocated and spent. During meetings, the board will present and discuss the association’s financial reports, including the income statement, balance sheet, and budget updates. You may also learn about the collection of assessments, expenses incurred, reserve fund updates and any outstanding financial obligations or concerns impacting your association.
- Planned maintenance and repairs – If there are any ongoing or planned maintenance and repair projects impacting common areas, expect to hear a discussion on those being considered or implemented at the condo board meeting.
- Rule enforcement or violations – The board meeting provides an opportunity to discuss rule enforcement and any violations that have been reported or observed within the community.
- Owner input and questions – Some board meetings may allocate time for unit owners to share their concerns, ask questions or provide input on matters affecting the association. This allows for open dialogue and provides an opportunity for the board to address owner concerns directly.
- Board decision-making and voting – During the meeting, the board may make decisions on various matters, such as approving budgets, authorizing contracts or implementing policy changes. Voting may take place to reach a consensus or make official decisions. The results of these decisions are typically recorded in meeting minutes.
It’s important to note that some portions of the board meeting may be conducted in closed sessions depending on the sensitivity of the topics being discussed, though there are limits on what can be discussed during a closed-meeting session.
Attending a condo board meeting provides an opportunity to observe the board’s decision-making process, voice concerns and participate in shaping the community. It’s also a good opportunity to familiarize yourself with the association’s governing documents and any specific rules or protocols they may have for board meetings.
To ask your questions about condo board meetings, what to expect when attending one or learn best practices for serving as a board member, get in touch with us at First Community Management. We partner with more than 115 HOAs in the greater Chicago area and are here to help your association.