It was maddening. Shareholders in a 780-unit Queens co-op kept complaining to the board about banging noises in the middle of the night coming from a particular apartment. When the board asked to inspect the apartment, the shareholder who lived there refused. Finally, building staff got inside – and discovered that the shareholder who lived there had undertaken a gut renovation without board approval. Read the article………………
There are a lot of property managers out there. They have different backgrounds, styles and strengths. It is important for the board of directors of your homeowner’s association to look for a management company that will best serve your community. Do they have the expertise that your association needs? Read the article…………….
Changing the way you think about board member recruitment in one simple way may lead to creating a better board. Also: growth strategy tips for major donor relationship-building and more.
The right board can help ensure your organization’s future success. How can your board member search committee ensure it builds a dynamic one? Jay Love, chief relationship officer at Bloomerang, recently learned a “simple and yet so elegant” secret from Kent Stroman, the author of The Intentional Board. “Recruit only board members who could serve as board chairs,” writes Love in a recent Bloomerang blog post. Read the article…………….
What’s better – $50/mo Reserve contributions (as part of your condo’s total monthly assessment) or $70/mo? All other things being equal, I’d rather pay a $50 monthly bill than a $70 monthly bill. But… not all other things are equal. Let’s say you live in a 80 unit condo, and the Reserve Study finds your association needs $5600/mo in Reserve contributions to offset ongoing deterioration and prepare for upcoming Reserve projects. That works out to $70/unit, each month. But the budget is tight (author’s note… isn’t it always?), and the board wrestles with and proposes $50/mo, because other costs have increased and hey “something’s got to give” in order to stay within their targeted assessment increase. Read the article……………..
We’ve said it before, we’re saying it today, and we will undoubtedly say it many more times in the future: Reserve funds, and most (if not all) things related to them, are tricky. And time and again we find ourselves turning to reserve expert Robert Nordlund, PE RS, CEO of Association Reserves, and his wealth of knowledge about reserves, as well as his passion for the accounting side of community association management. Read the article…………….