Being on a Condo Board is 'interesting' and is actually something all (well, many!) owners should do. If you want an idea of the kinds of things Board do, take a look at some of the many Condo blogs (e.g. http://www.tocondonews.com/ and the many legal blogs like http://www.lashcondolaw.com/ and condo columns like the Gerry Hyman one in the Saturday Star.
The time commitment can vary enormously; in our (small, 50-unit) building I have been on Board for 9 years. At first we met every 3-4 weeks for 3-4 hours but at that time we had a very poor Manager (or series of Managers) and a poor Management Company - and a rather 'hands-off' policy. Then the PM and the Company got worse so we took over more and more of the daily tasks (getting quotes etc) so it took even more Director time. Then we hired a new Management Company and a new Manager and things improved greatly. We now have meetings every 6-7 weeks and they last about an hour (we do also have email 'conferences'; we do not need to constantly discuss the same issues as we are able to get 'facts' and quotes promptly. Also, because the Manager is on top of things and is proactive our Super is much more effective (with the old Manager(s) he never got responses to issues so basically decided it was not worth reporting potential problems). Basically, Boards set and monitor the Budget, approve quotes over $x, supervise the Manager and discuss how to deal with issues that can range from 'improvements' to problem residents to new services like installing Bell Fiber. All this needs to be done within the rules and regulations set by the Condominium Act, the Corporation's own by-laws and, of course, the Corporation's Rules. Being a Director can be quite fun and the occasional interactions with unpleasant residents (all buildings have some) are greatly out-numbered by interactions with the others, who appreciate what the Board is doing. We have found that keeping all residents informed of what is happening and what is not feasible has really helped to make life in our building better, and our lives a s Directors much easier and more pleasant.
Very soon I'm going to be moving into a new condo. I'm considering running for the board. I would appreciate it if someone with experience could give an idea of what sort of things are to be expected, some of the pitfalls, highlights, etc.
On the turnover day, does the new board get elected right away? If so, does this new board have the power to make a decision such as, removal of the property management company? Or does something like that require an additional vote from the attending owners/proxies?
If the condo is a new phase of a complex (ie., shared amenities) how would it work for the 2 buildings to have different property management companies running them?
I've been browsing through the condominium act, but it's not exactly straight forward reading.