A condominium can serve as a welcoming home while offering access to a diverse network of neighbors. However, it’s essential to ensure that the property is overseen by a condominium homeowners’ association that enforces key rules and regulations while ensuring the satisfaction of the building’s unit owners. And though this may seem simple, it’s equally crucial to ensure that the association’s bylaws are up to par to help keep things running smoothly.
Below, the condo association insurance staff at Muller Insurance will outline a few basic rules and concepts that all association bylaws should include.
How to Become a Member
Condo association bylaws should always clearly establish how one becomes a voting member. Oftentimes, the requirements are simple – it can be as easy as being over the age of 18 and owning or renting in the given community – but outlining these rules is still important.
Board of Directors
Comprehensive bylaws should also offer guidance for establishing and electing a board of directors. This group will lead the way when it comes to rule enforcement and maintenance of the property. Once it’s clear how the board is chosen, don’t forget to explain how the group will select officers and provide an in-depth overview of the duties that each position entails.
Regular meetings are essential to the success of a condo association and the community in which it’s based. That means your condo association bylaws should state when and where those meetings will take place, who may attend and how the meetings will unfold, commonly known as the order of business. Plus, be sure to include a quorum, which refers to the minimum number of members that must be present at a given meeting before business can proceed. Finally, discuss how special meetings can be called should an urgent situation arise.
As times change, so will the members of your condo association – and with new members come new values and preferences. Fortunately, a clearly defined amendment process makes change orderly and simple. This will allow future members to incorporate any rules that the majority of the community’s condo owners feel are pertinent and beneficial to the property as a whole.
Your Source for Condo Association Insurance
While there are numerous additional details to include, these guidelines can help you begin building your condo association bylaws from the ground up. Need additional protection once the association is in place? Turn to the seasoned insurance providers at Muller Insurance. We’re proud to offer condo association insurance policies that can cover everything from common rooms to shared outdoor amenities and beyond. Contact us to learn more, and get a quick quote from Muller Insurance today.