Board Elections

if you let the management company do all the work, they will rip you off. you need to check all receipts that they provide to you for validity. every year or 2 there's the union to deal with in terms of contractual increases of salary. there's the people who don't pay their maintenance. choosing management companies if yours is not doing a good job. deciding on what the next major project should or needs to be. looking at the budget to ensure that there's enough of a reserve for emergencies. dealing with pain in the ass shareholders that don't like there is a tiny spot in the carpet on their floor, etc.... and that is just the highlights.

You've pretty much just nailed it.

It's not unlike any other corporate board, with the current management doing all the "heavy lifting" of actually running the operation.

Your biggest responsibility will be reviewing the annual budget, and making tough line-item cuts and vetoes that are never easy or pleasant.

I'm on my board - It's a decent time sink. I would not take it lightly.

pawn....is your building managed by an outside company? also, can you detail what your typical responsibilities are and how much of a time sink per month?

A friend of mine is on the board of her coop. One applicant didn't pass the board and the questioning/probing done by one of the board members during the interview was discriminatory. The board member doing the questioning didn't realize the basics of what you can and can't ask. Now the board is being sued. I also try to meet my friend for dinner once in awhile. The excuse, "sorry have a board meeting", is more and more frequent.