1.Do establish a capital reserve account.

2.Do stay updated on changes in the law.

3.Don't compensate your board members.

4.Don't let unit owners vote on adoption of rules & regulations.

5.Do incorprate your association.

6.Do file income tax returns.

7.Do send out proper notices for all your meetings.

8.Do know what actions require unit owner approval.

9.Do have open meetings.

10.Do have at least four board meetings per year.

11.Do maintain fidelity insurance.

12.Don't mix reserve and operating accounts.

13.Don't forebear the payment of asessments.

14.Do adopt rules & regulations.

15.Do keep proper books and records.

16.Do get copies of all leases from unit owners.

17.Do review your asociation's insurance policies.

18.Don't let unit owners get too far behind in assessments.

19.Do know what records you must keep.

20.Do keep detailed records of expenditures.

21.Don't pass a rule or regulation that conflicts with your declaration.

22.Do know what records must be given to unit owners.

23.Don't take the law into your own hands in dealing with problem unit owners.

24.Do follow correct procedures in enacting fines for rule violations.

25.Do know what disclosures the board must make in the event of the resale of a unit.

Hire a professional management company and they will take care of the do's and Don't.

Relax and let Broadstone Management Inc.. attend to the details while you enjoy life's other simple pleasures!

GIVE US A CALL, WE ARE HERE TO SERVE YOU, LET'S TALK!

Broadstone Management Inc.
(708) 473-6727