The Board of Directors is composed of 5 members (although sometimes as low as 3 and as many as 9). These people are owners in the building, and in many condominiums live on site as well. A portion of the condo board is elected every year at the Annual General Meeting. For example, if there are 5 board members, there should be 1 to 2 directors elected each year so that the new members can learn from those already on the board. You choose your board members at the Annual General Meeting, either by voting in person at the meeting, or by proxy if you cannot attend.

The board is responsible for the governance of the condominium. In other words they are the decision makers, and they are the ones with the authority to sign contracts and pay bills. While it may seem like management is in charge since they are the "face" associated with the condominium, the board are the real decision makers.

How do we choose good board members?

This is important. Remember how we said that the Board of Directors is ultimately responsible for the governance of the corporation? Keeping a good Board of Directors is therefore crucial to having a well run condominium, and protecting your investment.

Before the Annual General Meeting, you will receive a Notice of Meeting package, which should contain information on the candidates running for the board. We think it is a good idea to read up on these people and to ask questions at the meeting. After all, they will be in charge of your investment.