We’ve all been there: You’re in the subway and become riveted in Candy Crush, only to realize you’ve missed your stop. If you’re one of the 45% of New Yorkers who drive, you know the feeling of the dreaded wrong turn or missed exit. These may be trivial examples, but they represent many common occurrences that frequently put us into “crisis mode,” seeking to quickly get back on the right track and minimize time-cost of becoming too late.

If you feel like you’re constantly putting out fires, you might be running your co-op or condo building in reactive mode.

Here’s how to crawl of out crisis mode and stay ahead of the game in the future:

Assess: Take a thorough and honest inventory of your current expenses, ongoing projects, and recurring issues. Does your board have a proper balance sheet? Where does your building stand with the local guidelines? For a readable rundown on NYC energy efficiency, check out our guide (it’s free to download!).
Address: Once you have a good idea of your building’s fixed costs, upcoming assessments, and urgent issues, you can begin to address what’s going on. Start with the most time-sensitive: Are there any current construction projects or fines? What about approaching NYC energy efficiency deadlines? There is a lot that goes into running a building, so prioritizing where to spend the board’s time and resources can make it feel more manageable.
Anticipate: “Failing to plan is planning to fail” may be cliché, but the best way to avoid scrambling in the future is to plan in the present. Do you have a new member joining the board soon? What about an inspection for the NYC apartment elevator laws? It’s a good idea to keep a calendar for your co-op or condo board, including regular maintenance and costs for the building and NYC building laws. Also plan for longer-term assessments on the building that could stretch your resources.
Process: Every successful business has policies and procedures that help it run efficiently. Why should your co-op or condo building be any different? These handbooks holistically outline how your board operates so that your meetings can be consistently effective (and, if you’re lucky, brief). Comprehensive procedures and procedures enable co-op and condo boards to communicate clearly, delegate effectively, and automate busy work. We offer a free quiz and checklist to get you started.
Consult: Being a board member can feel like a thankless part-time job, so don’t go at it alone. Consider enlisting an expert to help with everything from board procedures to construction contract administration services. The best part about working with the Folson Group is that we are free to hire - we make money only when you save money.

“If you’re proactive, you focus on preparing. If you’re reactive, you end up focusing on repairing.”

— John C. Maxwell

Wrong Way! How to be proactive in your building, business, and life.