Owner involvement can be positive, but plan carefully. Define goals, roles, decision-making, and commit to allowing influence.
Owner involvement can be positive, but plan carefully. Define goals, roles, decision-making, and commit to allowing influence.
The board of a small Brooklyn co-op secured a Multifamily Express Green Loan to fund energy-efficient upgrades, such as replacing the gas boiler with all-electric heat pumps. The project was covered by increased maintenance fees and reserve fund utilization.
When should boards seek new partners? No blanket answer, but steps to guide decisions: clarify expectations, define the gap, assess impact, revisit improvement tactics, specify triggers.
During a condo's construction project delays, communication is key. Craft clear explanations, don't wait to communicate, and manage expectations to prevent owner concerns and discontent.
The writer expresses concerns about the tone of their board's emails to residents and seeks advice on improving it. The response advises adopting a neighbor-to-neighbor tone, avoiding imperious language, and inviting dialogue with residents.
A concerned individual seeks advice on preventing board directors from disclosing confidential information.
Three ways to get shareholders to behave themselves.
It's essential for boards to be seen as playing by the rules.
Not reading the fine print closely can cost you.