March 2017
Great condo boards are committed to improving their communities. They are willing to frequently invoke change to achieve success. They realize that the world is constantly changing and the condo corporation needs to embrace change to stay ahead.
Great condo boards turn challenges to opportunities.
Great condo boards prepare for upgrade projects well in advance of need to ensure funds are available.
Great condo boards instill trust from residents by adopting full disclosure. They make residents aware of issues at regular town hall meetings, adopt full disclosure of meeting minutes and undertake due diligence in researching issues before decisions are made. Great condo boards can be trusted to listen to resident opinions prior to making responsible choices on their behalf.
Great condo boards lead. They prepare an ambitious agenda for board meetings, provide clear direction to management and establish measurement criteria for determining success. They rely on the experience of management while controlling priorities, focus and work flow. They rely on management’s expertise to identify challenges and problems, and to propose solutions.
Great condo boards seek multiple bids for projects. For large projects they may employ a consultant or specialist to develop project specifications, solicit bids and manage the project.
Great condo boards understand the role of management and find a way to complement the skills of their condominium manager. Considering that condo boards are volunteer positions, a great working relationship with the condominium manager is crucial to success. As a general rule, great condo boards make the decision to pursue an initiative, then delegate to a committee the task of undertaking research or developing strategy. When it comes time to execute, implementation is delegated to the condominium manager.
Consider the case of a condo corporation dealing with a possible smoking ban throughout the condo building. They formed a committee to explore the possibility of implementing a smoking ban beyond what currently existed for common areas. This required amendments to condo documents and approval of more than 50% of owners. The committee gathered information about similar smoking bans in other condo communities, held town hall meetings and sought expert opinion. A resident survey was undertaken to determine support for a smoking ban. They then worked with legal counsel to draft the appropriate changes for an immediate smoking ban and grandfathering provision. The board gave themselves six months to obtain 50% support for the change. It took slightly more than a month. From start to finish, the process took about 18 months.
In the end, great condo boards are defined not by what they promise but what they do. They make the difficult decisions required for a condo corporation to be successful. They deal with opposition and move forward while considering the best interests of the entire condo community.
Do you live in a condo building with a great condo board? Share your story with Toronto Condo News. We will reprint submissions in a future issue of Toronto Condo News.
Publication Date: March 2017
