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Letter from Westwood Village UOA President

posted Apr 18, 2017, 7:26 PM by Westwood Village

Condominium Ownership 

Ownership and living in a condominium is not a simple matter.  It carries all the implications, responsibilities and work of owning a single-family home and then some.  The biggest changes are the fact that the Unit Owners’ Association owns the common areas and is responsible for their maintenance and replacement; the association must collect, manage and maintain funds (condo dues) to maintain and replace all common and limited-common elements of the property; and that the association must hire a management company to discharge the responsibilities of the association.  These top three items are great determinants of how property values are maintained and improved.  Hence the importance of serving on the Board of Directors. 

The Board of Directors

The Board of Directors is the governing body of the community and as such its primary objective is to maintain and improve its standards of living in terms of physical property and of community living.  To that end, the board must: 

  • Enforce all covenants, rules and regulations established in the condominium documents 
  • Enact new rules and regulations, within the framework of the federal and state condominium laws, as necessary to guarantee everyone’s peaceful enjoyment of their property and common elements 
  • Collect and manage sufficient dues to: 
    • Cover routine operational expenses
    • Set aside reserves to cover major periodic replacement expenses
    • Plan for the unexpected
  • Oversee and supervise the management company
    • Make sure the company delivers its services fully and professionally
    • Actively participate in the purchasing and contracting processes and make sure they are:
      • Transparent
      • Fair
      • Financially sound for the Association
      • Identify and avoid/eliminate conflicts of interest
    • Review and verify financial activity regularly
  • Plan strategically for improvement and replacement projects
    • Commission Replacement Reserves Study
    • Monitor and implement Replacement Reserves Study
  • Budget and plan to appropriately fund:
    • Operations
    • Reserves
    • Dues
    • Investments

Serving on the Board of Directors

Serving on the Board of Directors is a volunteer, unpaid, activity.  Every member serves out of a sense of community and yes, self-interest, in respect of maintaining and improving property values.  We all want to live in a beautiful, and peaceful community that increases in value every passing day.

Serving on the board demands from us that we:

  • Attend all monthly meetings
  • Advocate for the best interest of the community (not any individual’s best interest)
  • Conscientiously and diligently perform required tasks (read, write, analyze, recommend, decide)
  • Insist on transparency from self, board members, management company, and members

Call to Action

This long preamble about condominium ownership and governance serves as background for the work and achievements of the Board of Directors over the past few years during which we’ve implemented improvement projects while at the same time accruing a healthy reserve fund to cover the impending, major, capital expenses the community will face as it matures.

It is also background for the current state of the board membership.  Only three of the five seats on the board are currently filled and we, the broad membership, have failed to fill the vacant seats because of a lack of quorum at the past three annual meetings of the association.

Much work lies ahead for the board and we need to ensure that all seats be filled with qualified and dedicated individuals who can share the load and improve upon what is currently being done to make our community a place we are proud to live in protect our investment.

If you feel you have the desire and commitment to serve, are a member in good standing, and are an owner of record (your name is on the deed), please fill out an attached candidacy form and return to the board@westwoodvillageuoa.com

 

Kind regards,

Fernando Vargas
Board of Directors, President
Westwood Village Unit Owners Association
ĉ
Westwood Village,
Apr 18, 2017, 7:26 PM
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