NOTICE: Educational Video to be Required for HOA Boards

Homeowners association stewards in Montgomery County will now be required to view a two-hour education video, as per an article published in the Gazette on February 11, 2015 written by Virginia Terhune. A summary of the article is included below:

This law will go into effect on January 1, 2016. The goal of this bill is to encourage board members to be aware of the basics of running an organization. Skills introduced in this video will be sound financial management and open meeting laws. Montgomery County officials want to make sure that homeowners association board members are properly educated in order to better serve the communities they serve.

The bill was introduced by Council Chairman George Leventhal (D-At Large). HOA boards are largely responsible for ensuring that property values in their community are preserved. Uninformed members of HOA board can be a liability to the property values.

It's great that while the Council is advocating education, the requirement is very reasonable! As most HOA board members are volunteers with lives and jobs and families, having a 2 hour video as the required education is very manageable. Sit down with a big cup of coffee after dinner and relax while watching it! When more information about the video and education requirements are released, trust that IKO Community Management will let you know!

If you have any questions, comments or concerns, please contact IKO Community Management. We’ll be happy to help.

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