Residential Estate Industry Journal | Page 52

IMAGES: SIMBITHI ECO ESTATE AND COUNTRY CLUB to express their views and permitting each nominee to have a representative observe the vote-counting process. 6.Financial transparency. Share critical information and rationale with residents about budgets, reserve funding, special levies and other issues that could impact their financial obligations to the association. Give members an opportunity-before final decisions are madeto ask questions of a representative who is fully familiar with these financial issues. guidelines, uniformly, but only after seeking compliance on a voluntary basis. Distribute proposals for new rules and guidelines to all homeowners and non-owner residents. Advise them when the board will consider new rules and encourage input. Once adopted, new rules and effective dates should be distributed to every owner and resident. Note: Association boards should consult with attorneys to ensure their association is governed in accordance with all regulations. 7. Foreclosure. Initiate foreclosure proceedings only as a last step in a well-defined debtcollection procedure-and only after other, lessdisruptive measures have failed to resolve a serious delinquency issue in a specified period of time. RCC encourages the thoughtful consideration of ethical standards for community leaders. The model code is not meant to address every potential ethical dilemma, but is offered as a basic framework that can be modified and adopted by any common-interest community. 8. Governance and the law. Govern and manage the community in accordance with all applicable laws and regulations. Conduct reviews of governing documents to ensure legal compliance and to determine whether amendments are necessary. RCC encourages Board members to: 1.Strive at all times to serve the best interests of the association as a whole regardless of their personal interests. 9. Grievances and appeals. Allow residents to bring grievances before the board or a board-appointed committee, and follow wellpublicised procedures that provide residents the opportunity to correct violations, and to appeal any fine or sanction that is imposed. 10.Records. Allow homeowners reasonable access to appropriate community records, including annual budgets and general meeting minutes. 11.Reserve funding. Account for anticipated long-term expenditures as part of the annual budget-development process, commissioning a reserve study when professional expertise is warranted. 12.Rules. Enforce all rules, including architectural 52 2.Use sound judgment to make the best possible business decisions for the association, taking into consideration all available information, circumstances and resources. 3. Act within the boundaries of their authority as defined by law and the governing documents of the association. 4.Provide opportunities for residents to comment on decisions facing the association. 5.Perform their duties without bias for or against any individual or group of owners or non-owner residents. 6.Disclose personal or professional relationships with any company or individual who has or is seeking to have a business relationship with the association. 7. Conduct open, fair and well-publicised elections. 8. Always speak with one voice, supporting all duly-adopted board decisions-even if the board member was in the minority regarding actions that may not have obtained unanimous consent. RCC encourages Board members not to: 1.Reveal confidentia