When discussing the concept of an association, it is crucial to understand its true meaning and purpose. In this blog, we will explore the essence of an association, debunk common misconceptions, and emphasize the significance of prioritizing people and community above all else.
Defining Association
To gain a deeper understanding, let us first examine the various definitions of association. According to Webster’s Dictionary, an association is “an organization of persons having a common interest: society.” Similarly, the Dictionary of Oxford Languages defines it as “a group of people organized for a joint purpose.” This definition is also clearly reflected in the laws and rules governing Condominium Associations. In the Declaration of Condominium Property Regime, association means the “Association of Apartment Owners.”
These definitions make it clear that an association is composed of people. In terms of apartment owners, it comprises families, couples, and individuals who come together with shared dreams, visions, memories, joy, fulfillment, passions, a sense of liberty, and privacy. It is a community united by a common purpose: the pursuit of a peaceful home and the enjoyment of a fulfilling life.
Debunking Misconceptions
Contrary to popular belief, the board is not, and is not synonymous with the association. An association is also not a building, insurance policy protecting against the board’s mistakes, it is not a pool, a fence, or an ATM. Instead, an apartment owner association comprises living, breathing humans who have joined hands to create a harmonious and vibrant community. It is important to recognize that the collective group of people, owners, are the true embodiment of the association.
Expectations and Obligations
Expectations and ObligationsThe members of an association have certain expectations regarding the management of their community. They enter into an agreement that outlines the responsibilities and obligations of the board members and managing agents.
These individuals owe a fiduciary duty to the association members. The board is entrusted with certain responsibilities and powers, but its ultimate obligation is to act in the best interest of the community they serve. The board should not view itself as an elite executive-entitled body. Instead, it is an elected extension of the association. Its role is to serve the community, considering its fiduciary duty to do right by the association members.
Understanding Fiduciary Duty
Fiduciary responsibility plays a vital role in the functioning of an association. The board, managing agents, and association attorneys are all in place with the obligation to fulfilling their fiduciary duty toward the community.
Their purpose is to ensure that the association members are cared for professionally and with the utmost care. They are obligated by their contractual agreements to serve the community’s best interests, working to avoid costly mistakes and promote the overall benefit of the association.
The term “fiduciary” is also misunderstood. In our next blog, we will delve deeper into the concept of fiduciary duty, shedding light on its true significance. Read to discover what it entails.
The Bottom Line: An Association Has People at Its Core
Recognizing that physical structures or rigid rules do not define an association is crucial. It is, above all, about the people who comprise it. By embracing this understanding, we can foster a sense of community, prioritize the well-being of individuals, and ensure the harmonious functioning of the association.
