PHILADELPHIA, Pa. (May 6, 2019) – FirstService Residential, the nation’s leading property management company, hosted a board member training event titled “The Good, the Bad and the Fiduciary” at the historic Naval Square Condominium Association on April 29, 2019. Attendees included approximately 17 board members from over 9 associations managed by FirstService Residential in Philadelphia and southern New Jersey.
“Educating our board members is an important initiative to FirstService Residential. It is an ongoing program covering a variety of topics, all aimed at educating board members on topics that are critical to our collective success. We often call upon our associates to impart their knowledge and experience,” said Michael Mendillo, president, FirstService Residential. “Many of us have been in this industry for decades and are happy to share our experience with our board members.”
The presentation focused on the board’s use of fiduciary duty when making decisions. Topics covered included the specific role of fiduciary duty in community associations, the use of The Business Judgement Rule, fiduciary duties in financial planning and risk management, effective and sound decision making and understanding contracts.
The panel included several FirstService Residential subject matter experts:
In addition, Arthur Bartikofsky, CPM, senior vice president, FirstService Residential, was on hand to meet and greet, as well answer follow up questions from our board members.
About FirstService Residential FirstService Residential is North America's largest manager of residential communities and the preferred partner of HOAs, community associations and strata corporations in the U.S. and Canada. FirstService Residential's managed communities include low-, mid- and high-rise condominiums and cooperatives, single-family homes, master-planned, lifestyle and active adult communities, and rental and commercial properties. With an unmatched combination of deep industry experience, local market expertise and personalized attention, FirstService Residential delivers proven solutions and exceptional service that add value, enhance lifestyles and make a difference, every day, for every resident and community it manages. FirstService Residential is a subsidiary of FirstService Corporation, a North American leader in the property services sector. For more information, visit www.fsresidential.com.