Page 10 - New England Condominium October 2021

10 NEW ENGLAND CONDOMINIUM -OCTOBER 2021 NEWENGLANDCONDO.COM BOARD OPERATIONS Transparency vs. Discretion What to Say (Or Not to Say), and When BY A J SIDRANSKY Members of condominium and co-op a board may not be as transparent as its resi- boards are oft en faced with confl icting in- terests and messages relating to matters of stances warrant that boards be transparent transparency and discretion. As a matter of and forthcoming with the owners or share- good governance, transparency is always the holders they have been elected to represent. If preferred policy, whether you’re the president a large capital project is undertaken and prob- of your community board or the President of lems arise, for example, the board should keep the United States. Th at being said, in both cases there are cations. In this case, transparency is not only times when good judgement means that preferable; it’s necessary. discretion may be preferable to total candor and more critical than the membership’s or tion, though—things like the fi nancial, per- public’s right to know. Th e question for board sonal, or health information of individual members is how to recognize when discre- tion trumps transparency, and what the law and board members must show the utmost requires with relation to both. “Boards are elected as fi duciaries to man- age their buildings,” says Mark Hakim, an information on any of its residents to other attorney with the Manhattan-based law fi rm residents,” Hakim says. “Personal and fi nan- of Schwartz Sladkus Reich Greenberg Atlas. cial information must be protected. Th is is “While we always recommend that boards be especially true in light of COVID-19, where as transparent as possible, we also recognize boards should not be divulging medical in- that there are both practical and legal reasons formation of a resident to the general public.” dents want.” He explains that many circum- residents informed of the causes and ramifi - When it comes to proprietary informa- community members, for example—boards discretion and respect for privacy. “Generally, boards can’t simply provide sensitive personal | senne.co | 617.314.9400 AS PROPERTY MANAGERS, YOUR NEEDS ARE OUR GOALS. Financial Management, Accounting, Budgeting & Forecasting 24/7 Maintenance, Repair, & Emergency Services Tenant Management & Leasing Services Secure Online Accessibility & Real Time Reporting Capital Improvement Project Coordination & Planning Informed Pricing Structure WHAT WE DO See us at Booth 303