Whether you own a condo or you’re still searching, chances are you’ll eventually be invited to attend a condo membership meeting.
The Luxury Living Team is here to share everything you need to know about these meetings beforehand.
When you purchase a condo, you are also expected to pay regular dues which grants you membership into the condo association.
This association is run by an elected board of directors, which handles the maintenance and repair of common areas, disputing among unit owners, and enforcement of rules and regulations, and condominium fees.
While the board manages these community issues, condo unit owners still have a voice in the operations and the choice in board members. Unit owners have a chance to use this voice at condo membership meetings.
The primary goal of this meeting is to address significant topics that affect the community at large. For example, a membership meeting is necessary when adopting the annual budget, enacting rules of the association, amending the declaration of bylaws, and conducting board elections.
The Illinois condominium statute and the bylaws of each condominium should indicate when a membership meeting is required. The condo association also needs to notify all unit owners of the meeting date and agenda far enough in advance.
When understanding condo membership meetings, it’s important to distinguish them from condo board meetings.
While membership meetings are intended for all association members to discuss major issues that affect the entire community, board meetings are in place for the board to discuss more specific matters.
Condo board meetings allocate regular time for the board to manage the day-to-day administration of the condo association, such as the rules, regulations, and maintenance of housing development.
Although board meetings are designated for a conversation among the association’s elected board, homeowners are still allowed to be present during the meetings. The only exception exists if it is a closed or “executive” meeting. These exclusive meetings are occasionally arranged to discuss more confidential matters, such as a legal issue or a homeowner’s financial status.
If you’re already a member of an association, don’t hesitate to reach out directly to your board for more clarity regarding the condo membership meetings. You can also find specific guidelines and insight within your association’s bylaws.
A licensed broker is another great resource if you have questions and you’re still looking for the right condo. Connect with our experienced team today!
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