The rules and laws that you need to abide by will have been created by both the state government and the governing documents created by the condo association that runs the project, so it is vitally important that any actions you take as a member of the board follow these rules.
This serves to protect the condo and ensure that no bad decisions can be blamed on a failure to follow proper procedure. It also protects investors from potential legal action against them should it be discovered that something is not being done as it should be.
You will also be responsible for enforcing what are known as the "covenants", which are the rules that all of the residents of the Skywaters Residences Price need to follow. These rules must be enforced fairly and evenly, without any favour being shown to any residents.
Acting In The Best Interests Of The Condo
Investors will be expecting to make a return on their investment, so it is important that every decision you make as part of the board is made with the best interests of these people in mind.
Of course, this shouldn't stretch so far that you start breaking the rules that have been laid out for you, but you should always ensure that what you do is for the benefit of the whole, rather than for yourself or particular residents of the condo.
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