Support to the Board
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The Association is a Corporation, a moral person governed by the Statutes approved by the State of Florida. The Corporation is Not for Profit, unlike others where their members act with a profit-oriented purpose.

The typical positions and responsibilities in a Board of Directors in a Condominium, Cooperative, or Homeowners Association (HOA), are divided in two: Officers & Directors.

The Officers & Directors are the elected by the Board members, soon after the elections and according to the Statutory deadline. Typically, the Officers positions are President, Vice-President, Treasurer & Secretary. The other members are Directors.

The functions and fiduciary responsibilities of the Board are described in the Laws 718 & 720. A summary of the conceptual framework of the laws 718 & 720 vested upon the Board is as follows.

  • Enforce the documents, namely, the Declaration and By-laws
  • Approve conservative and prudent Fiscal responsibilities
  • Keep the community presentable and the property in good working order
  • Approval of rational Budgets, based on the needs of the community
  • Establish Reserve Funds, or alternative cash conservation, such as Savings Accounts, following the Statutory guidelines
  • Determine assessment fees based on the Budget
  • Collect assessments
  • Establish, publicize, and enforce Rules and Penalties, including Recovery Costs
  • Authorize legal action against owners who do not comply with the Rules
  • Consult the Legal Counselor to review local laws before passing Rules & Regulations updates and modifications
  • Appoint committees, if needed and delegate authority to them

  • Select an attorney, an auditor, insurance agent and other professionals for the association
  • Provide adequate insurance coverage, as required by the bylaws & Statutes
  • Inform Board members of all business items that require their vote
  • Inform members of important Board decisions
  • See that the association is protected for the acts of all parties with fiscal responsibilities
  • Study the Declaration & By-laws
  • Attend and participate at meetings
  • Making decisions on major repairs and maintenance of buildings and grounds
  • Communicating regularly with the condominium owners
  • Maintaining and repairing the assets of the corporation
  • Compliance with

To assist on these responsibilities, Gold Property Management & Associates, Inc. keeps constant communications with the Board, both verbally and emails, which insures a steady flow of policies’ implementation. Normally, our support to the Board is implemented using a Team composed of three members of our staff, assuring those critical personnel in our company follow the Board’s guidelines at ALL times.