We recruit like minded board members. But do note, we have a history of longevity among board members. Further, we have a common purpose (kindly see my other postings herein these forums) and all board members check their personal demands at the door.

Yes, there was a discussion thread about two weeks ago regarding soliciting votes. We usually recruit friends of the board of directors and they in turn go door to door to solicit proxies for the preferred slate.

But do also take note that we are without any debt, having retired the original mortgage without refinancing. We raise maintenance EVERY year by 2.5% to 4%. We slowly year by year raised our capital assessment which initially garnered $20,000 so that now we are bringing $900,000 to our yearly capital reserve fund. Yes, there was a jump from $450,000 to $900,000 when we retired the debt and its payments, and moved the debt retirement amount of maintenance from the maintenance income stream to the capital improvement stream.

And we have a mega-million line of credit which as I noted elsewhere is used for intra year payments in anticipation of capital reserve income.

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How did we do it?

Single minded focus of a board of directors recruited by the board of directors with total dedication to fiduciary responsibility.

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Oh, we are self managed, and our staff is all long term thus avoiding the churn of management companies and managing agents even if the same firm is retained.

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