Rent Real EstateHOA Fiduciary Sensitivity
A "fiduciary" is someone that has been entrusted to act on behalf of another. It is an ancient and noble calling to serve another"s interest for no compensation. The principle of fiduciary is central to the role of directors that serve on a homeowner association board.
The community members elect individuals they deem trustworthy to care for the HOA assets and that which is near and dear to all...their homes. Being a fiduciary should never be taken lightly. In the pecking order of Board responsibilities, it"s at the top.
There are those that sidestep their fiduciary duty in route to the Board. This becomes glaringly apparent when someone gets elected and comes packing a personal agenda (hidden or otherwise). Playing out this agenda is totally contrary to the fiduciary principle. It"s a wolf in sheep"s clothing. There"s a fox in the henhouse. Do what you would do with any varmint. Run them off.
Another anti-fiduciary slant is the "I was elected to make decisions" mentality. While maybe well meaning, this attitude presupposes that the community is just fine with whatever this person decides. By extension, this person believes that soliciting community input on important issues is a waste of time. Wrong, wrong, (repeat) wrong.
Polling members on significant policy or rule changes is the height of fiduciary sensitivity. If you have the community"s general agreement on a rule, there will be less need for enforcement and fewer confrontations after it"s adopted. Soliciting input also uncloaks Board meetings by casting hot topics directly in front of the electorate. This promotes trust. And trust overcomes the Board"s need to explain each and every action.
A fiduciary is a servant by definition. This means keeping others" interests above one"s own. This means keeping the "Big Picture" clearly in focus rather than squinting at the small print. By filtering decisions through a fiduciary screen, the Board will remain sensitive to its highest calling. HOA Fiduciary sensitivity makes sense.
For more innovative HOA management techniques, subscribe to www.Regenesis.net.