New Year's [Board] Resolutions…
First of all, everyone here at Barker Martin would like to wish you a very happy new year. We have enjoyed working with you, and hope we have the opportunity to do so in the future.
Rather predictably, every December I receive at least a handful of emails or Facebook messages concerning resolutions for the coming New Year. The messages typically fall into three categories: health and dieting, career/professional motivation and, of course, advice on how not to break your resolutions. While I skip right past most of the New Year’s resolution messages I receive, it occurred to me that our clients might really benefit from a fourth category of New Year’s resolution specific to community association directors and boards.
Since I am in no way qualified to give you health, career or motivational advice, here are a few ideas for New Year’s resolutions that you might consider if you are a community association director.
- Resolve to thoroughly re-read your governing documents before February first. No single tip I can give is potentially more useful.
- Resolve to complete the amendments to your governing documents that you have been considering, and send them to owners for consent, within the first 6 months of the year. Amendments take time and planning. But, whether you are considering a complicated declaration or CC&R amendment, or a simple rule change, 6 months should be enough time if you get started in the next few months and remain engaged in the process.
- Adopt a comprehensive collections and enforcement policy. We see so many collection and enforcement issues where the Association would be in a better position to act, or react, if it had adopted such a policy beforehand.
- Set a concrete goal. What we mean by a concrete goal is that you need to include a realistic timeframe and clearly articulated steps to achieve it. If you mean to increase reserves—which is a great goal to have—then be specific in your resolution and state exactly how much you wish to increase reserves on a monthly basis, when the increase could start, and how the planned increase will impact your recommend reserve levels. It may be the case that the increase would not even be effective until next year, but knowing that fact now allows you to effectively plan to make it happen.
As always, let us know if we can help you. And, don’t forget, there are many useful articles, as well as information and reference materials, including all past Notes From the Team, on our website, www.barkermartin.com.