Board of Directors
Also known as: HOA Board, Board of Managers
The elected group of homeowners responsible for managing the affairs of a homeowners association. Board members have a fiduciary duty to act in the best interest of the community. They set policy, approve budgets, enforce rules, and hire vendors or management companies. Most boards consist of three to seven members who serve staggered terms.
Common Misunderstanding
Board members are not personally liable for good-faith decisions made within their authority, as long as they exercise reasonable care.