Being on the Board of a Condo or HOA is no easy task. Here are some of the best habits we have seen in the most successful board members we have worked with:
1.Put Community Interests First – The Board has a fiduciary responsibility to look out for the best interests of the community. This means keeping up with the physical property and changing times to make sure the community appeals to new buyers, which will maintain the property values of the community. Adding a new community feature that might add great value to the community, but that may not interest or benefit you needs to be looked at for the overall good of the community; not what works for you personally.
2. Seek Consensus – The best board members are experts at rallying support and knowing how a vote is going to go long before the board meeting. Even when board members don’t agree on priorities, they have a professional working relationship with the other board members and understand the value of compromise.
3. Invest in your Community – Remember the board has a duty to maintain the property values of the community, which means investing in the common areas and potentially making capital improvements. Reserve FUNDS are SAVED to be spent.
4. Trust your Manager – Property Managers are licensed professionals typically with years of experience in their field. Good managers don’t want to be micromanaged. If you cannot trust your manager, then you have the wrong manager.
5. Over-communicate – The number one complaint we hear from frustrated owners that end up running for the board is: Lack of Transparency. Communicate with residents via monthly newsletters, community email blasts and manager’s reports.
6. Play by the Rules – Rules are not made to be broken in a Condo or HOA. It’s important to lead by example and not be accused of selective enforcement. The board must follow the same rules as everyone else.
7. Be a Good Neighbor – You are a board member, but you’re also everyone’s neighbor. Treat your neighbors the way you want to be treated. Try to de-escalate situations whenever possible.
Join us at one of our upcoming Condo or HOA Board Certification Courses to see the “7 Habits of Highly Successful Board Members” presentation where we go through the 7 habits in more detail. Click here to view our course schedule.
by Ashley Dietz Gray, Marketing Director, Campbell Property Management