The Vice President on our HOA Board works for a realty company who recently opened a property management arm. Our Board, with his urging, hired that new company to be our property manager. The Vice President/Board member has also sold 8 homes in our community and is currently representing a homeowner to sell their home. This seems like a legal conflict of interest. Is it? If so, what if anything could homeowners do?
Board members should recuse themselves from decisions that present conflicts of interest. A conflict of interest exists when a board member’s personal interests, whether financial, social, or otherwise, may compromise their decisions or judgments. In your VP’s case, a conflict of interest does seem to exist.
If homeowners believe that a board member is abusing their power, they may act by removing that board member. Your bylaws should be able to tell you how you can remove board members. Other than that, you can refer to a previous question here: https://www.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.