A Manager's Perspective on New Year's Resolutions for Boards of Directors

With the start of a new year, now is the perfect time for managers to guide and assist their Boards with making sure 2024 is a successful year and full of accomplishments.  The question is, what steps can be taken to bring this to fruition?

Begin with education and training.  CAI, or Community Associations Institute, offers webinars and other educational sessions that provide Boards with the training and tools needed to be knowledgeable and well-rounded Board Members.

Organizing and planning ahead are key to running a sound Association.  It is important to follow the Reserve Study recommendations, so Board Members know what major projects are coming down the road and to make sure any and all Replacement Reserve accounts are funded accordingly.  As we all know, no one likes a Special Assessment!

Achieve what you set out to do as a Board and keep the owners informed of the progress and of any changes that may be required or unavoidable during major projects and even general maintenance throughout the Association.  Transparency is vital to a strong relationship between Board members and Owners.

Remember to hold regular Board Meetings as this is a great forum for sharing information with the Owners, as well as providing Owners with an opportunity to share their thoughts, concerns, and yes, sometimes even compliments, for a job well done!

Documents are such an important part of any Association, and it is essential for Board Members to become familiar with their Association’s documents.  With changes in the laws that govern Associations, it is becoming more and more necessary to amend the documents, keeping in mind that older documents may have worked years ago, but may now contradict what the law requires.

So, with all of this said, putting these best practices in motion will certainly make Board Members the very best they can be!     

 

 Steve Townsend, CMCA, AMS, is a portfolio manager at United Property Associates. A graduate of First Colonial High School and Tidewater Community College, he's been working in the association management industry for almost 20 years. Steve is actively involved in the CA Day Committee and has been for many years; including serving as Chair and Co-Chair for the event. Steve has been active in the Chapter since 2005, and has always been an advocate for the organization.

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