You may have heard the terms “fiduciary” and “standard of care,” but do you fully understand those concepts? Directors of community associations have volunteered to serve and now owe a fiduciary responsibility to homeowners within the community. As a “fiduciary,” the HOA directors now have a duty to act for the benefit of the homeowners on matters within the scope of their authority.
Homeowners rely on board members to make informed and knowledgeable decisions to protect and enhance property values. Directors are the stewards of homeowners’ trust and need to serve responsibly. The attorneys at Peters & Freedman, L.L.P. are well-versed on fiduciary duties and the standard of care required of a board of directors. Our Southern California legal team can guide directors through the parameters of board leadership and decision-making to ensure a healthy and vibrant community.
A well prepared and educated board of directors provides the leadership that every community association needs to succeed. An integral part of the services provided by Peters & Freedman, L.L.P. to our clients is assisting directors understand their legal duties by teaching effective governance. Our team provides a myriad of director education, including a comprehensive “Board Boot Camp” orientation and training session that educates directors on their legal obligations and provides the tools needed to become more effective leaders.
Peters & Freedman, L.L.P. is passionate about education and believes that educating directors is the key to ensuring well run communities that allow a board of directors to effectively serve the needs of the membership and the community as a whole.