Oregon 30-Hour Real Estate Law Practice Test

Which of the following is a responsibility of a condo unit owners association?

1. Manage the day-to-day operations of a condo

2. Set the amount of property taxes

3. Elect a board of directors

4. Regulate rental agreements for units

The correct answer is: Elect a board of directors

The role of a condo unit owners association primarily revolves around managing the collective interests of the condominium community. One of their fundamental responsibilities is to elect a board of directors. This board plays a crucial role in overseeing the management of the condo’s affairs, including enforcing rules, maintaining common areas, and handling the overall governance of the community. The ability to elect a board of directors allows the unit owners to have a say in how their community is run. This body is typically comprised of unit owners who understand the needs and concerns of the residents, and their decisions directly impact the quality of life within the condo association. Having an elected board ensures that the decisions reflect the interests of the majority of unit owners, thereby promoting a sense of community involvement and cooperation. In contrast, managing day-to-day operations might be part of the responsibilities but it's usually executed by property management companies or appointed staff rather than the association itself. Setting property taxes is a function of local government and not within the purview of the association. While the association may have input on rental agreements, they do not typically have the authority to regulate such agreements directly; they might provide guidelines or rules that owners agree to follow when renting their units.