Much like the book "The 7 Habits of Highly Successful People" (a highly recommended read). We have created "The 9 Habits of Highly Successful Boards". By using these tools your Board will be much more successful, much more efficient, and your community will also experience great success. These 9 Habits were developed through our experience in working closely with Board of Directors, training and educating Board of Directors, and managing community associations. Our 9 Habits are a proven tool for Board Member success.
1) Invest Reserves - Invest them and monitor those investments regularly. Contact our Accounting Department for assistance and information.
2) Meetings - Hold frequent meetings, prepare a detailed agenda, and set Board Meeting goals and expectations. Contact your Manager for assistance.
3) Disclose Conflicts - The Board should always disclose any conflicts with vendors, contractors, etc. This will benefit all parties involved.
4) Enforce Rules & Regulations - Proper violation enforcement is important to maintain order and property values throughout the community; however, do make sure that all rules are being fairly and equally enforced. Contact your Manager for assistance.
5) Enforce Collections & Delinquencies - Proper aggressive and efficient delinquency enforcement is necessary to maintain a financially healthy community and to increase property values. A fair and equal collections policy should be established and our Accounting Department can assist you with this.
6) Adopt Policies and Procedures - The Board should adopt Policies and Procedures that include resident applications and screening, move in/out, violations, collections, architectural enforcement, and many others.
1) Invest Reserves - Invest them and monitor those investments regularly. Contact our Accounting Department for assistance and information.
2) Meetings - Hold frequent meetings, prepare a detailed agenda, and set Board Meeting goals and expectations. Contact your Manager for assistance.
3) Disclose Conflicts - The Board should always disclose any conflicts with vendors, contractors, etc. This will benefit all parties involved.
4) Enforce Rules & Regulations - Proper violation enforcement is important to maintain order and property values throughout the community; however, do make sure that all rules are being fairly and equally enforced. Contact your Manager for assistance.
5) Enforce Collections & Delinquencies - Proper aggressive and efficient delinquency enforcement is necessary to maintain a financially healthy community and to increase property values. A fair and equal collections policy should be established and our Accounting Department can assist you with this.
6) Adopt Policies and Procedures - The Board should adopt Policies and Procedures that include resident applications and screening, move in/out, violations, collections, architectural enforcement, and many others.
7) Keep Records - Maintain proper records such as financials, meeting minutes, notices, contracts, and so much more. We can help with this.
8) Reserve Studies - Be sure to have an updated Reserve Study completed and updated at least every two years, this is important for accurate Budgeting, reserve funding, and may also now be requested by mortgage lenders prior to approving a purchase. Contact us for more information.
9) Use Professionals - It's important that Boards use experienced professionals to their full advantage and refer to them frequently. These professionals include Management Companies, Attorneys, Accountants, Contractors, etc. An effective Board refers to it's professionals to be sure that the Board is doing things correctly and that the Board fully understands the effects of its decisions.
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