How Boards Work
Condominium governance is the process by which the condo board directs and oversees the affairs of the condo corporation. Condo boards are legally responsible for directing the condo corporation, ensuring its legal obligations are met and that the condo corporation acts in the best interests of the owners.
Four Foundations of Good Governance
Developing a Skills Matrix
Boards that understand the mix of skills they need to carry out their duties can map these out in a skills matrix and use it table to identify the kind of profile of director they need to round out what skills current directors are missing.
For example, a board that has directors with experience in the finance world may identify that they need to find a new director with legal, project management or asset management experience through a matrix.