What Makes a Great Board Member

Some of the most important things to remember when you're a coop or condo board member is that you represent your neighbors and the entire community. It's not always easy, but it will make life so much easier in the end! Previously we covered our “Top Three Electrifying Tips” for coops and condos. This time, we’d like to give some tips to board members on how to accommodate and facilitate this.

1.  Collaborate

   If a resident comes up with a suggestion, ask them more about it and then ask them to do some research. Most proactive coop and condo boards mention at the annual meeting that they are open to suggestions (and some actually are!). When you finally get one, especially one that is in the best interest of the entire building and not just a personal matter, be sure to investigate!

   A great way to engage the person who made the suggestion, and get them involved with a feeling of ownership and contribution, is to ask them for more information, and maybe even to do the initial research. This will not only make them feel involved and listened to, but save the board’s time so that they can then use that time later to investigate more fully whatever is presented to them. The board then can follow up and get up to speed on what may be a new opportunity in the coop/condo sector.

   Examples of new ideas, tools and topics are Local Law 97; the Inflation Reduction Act (IRA) of 2022 and Rewiring America

2. Decide

   Be sure that you as a coop or condo board member are prepared and able to make decisions. In order to do that, you need to be up-to-date on current topics (see #1 above) and in tune with evolving trends, desires and needs of what may be a changing demographic in your building. You should think as if your property values depend on this, because they do! If you have been on your board for a few years, and have lived in the building for quite a few years more, you may have a very different resident base than what you remember from when you first moved in. This is natural, but more easily seen by stepping back and look at what the building may have looked like resident-wise 10-20 years ago than what is noticed on a short-term basis. Younger or more affluent owners have different needs, wants, and standards than some longer-term resident owners; this is neither good nor bad, but just a fact of life. The NYC real estate market is constantly evolving and advancing. Is your board?

3. Communicate

   You’ve done your homework, given up a lot of your personal time, listened to your fellow owners, and hopefully followed through and implemented something(s) that will improve the quality of life in your building for all residents (add bonus points if it likely increases property values and saves money!); now what do you do?

   Tell people about it!

   Let everyone know about it! Depending on the size and scope of what was accomplished, send a memo to the entire building, and maybe also schedule a wine and cheese social event to celebrate and discuss in-depth with the entire building. This lets people know that the board listens and acts in their best interests. Direct communication also serves not only to keep people informed, but also to prevent any “conspiracy theories” that seem to pop up in almost every building at some time or other. It’s also a great way to personally connect with fellow residents in a casual setting; oftentimes the board only interacts with residents in a confrontational setting- that is, they are approached in the hallway (or lobby or gym or sidewalk or grocery store or…) because someone has a problem and is often not in the best of spirits. It is much easier to handle these inevitable situations when you already have a personal relationship with someone, and have already done something demonstrably positive for them.

We hope you found this helpful. For more helpful tips on how to build a better community in your coop or condo, read Tina Larsson’s book: Living the High Life: How Smart Co-op and Condo Owners Protect Themselves and Their Investment, get it here.