Virtual Board Meetings Enhance Attendance and Efficiency in Co-Ops and Condos

Post pandemic, there’s been a shift of co-ops and condos that have transitioned permanently to virtual or hybrid meetings, and for good reason. They offer increased flexibility and convenience for boards, residents and management — which can improve attendance at both special and annual meetings, making it easier to reach a quorum — and a more efficient use of everyone’s time. While some buildings still prefer in-person meetings where shareholders or unit-owners can socialize, many have gone digital and never looked back. 

Flexibility is the New Normal

The trend toward virtual meetings has certainly influenced meeting schedules. “Traditionally, board meetings were always held in the evenings after work at later hours, like 7pm or 7:30pm,” says Mark Hoffman, principal at Hoffman Management. Since going virtual eliminates the need for people to physically attend meetings, “now I have them in the morning or early afternoon, because there’s much more flexibility for people's schedules,” he adds. This is particularly useful at condos, where it’s more common for owners to sublet their apartments. “It is easier to coordinate the meetings when people are not necessarily living in the building,” Hoffman points out.

Zoom has become the software of choice for virtual annual meetings. “People seem to know how to operate it, and it provides a good platform to hold these meetings,” Hoffman says. As for board meetings, minutes shouldn’t be recorded, since they can be surprisingly revealing and leave boards open to possible legal issues down the road. Instead, bare-bones notes should be taken by a board member and then made available to shareholders or unit-owners, or prospective purchasers. 

Preparation and Protocol

In Hoffman’s experience, resistance to virtual annual meetings from board members has been minimal. If a building wants to have annual meetings in person, a member of his management team will attend. But whether they’re physical or virtual, boards have to be well organized and prepared. “Just like any meeting, prepare an agenda,” Hoffman says. “And there has to be courtesy. People have to allow others to talk, so people aren't talking over each other. Provide ample time for questions and follow-up.”

Community Building

Virtual meetings remove the social element, but that doesn’t have to be a downside. “Buildings have their own DNA, and I think if a building has a sense of community, it's going to have that whether or not they have a meeting in person or virtually,” he says. However, virtual meetings have the definite upside of potentially attracting a younger, more tech-savvy demographic to the board. “I think it will attract more people who would like to participate but who may have a more complicated work schedule,” he says. 

-Emily Myers