Page 7 - New England Condominium August 2020

NEWENGLANDCONDO.COM NEW ENGLAND CONDOMINIUM -AUGUST 2020 7 ■ Depth of Knowledge & Experience ■ Expert Advice ■ Creative Approaches & Solutions ■ Flexible Billing Arrangements NE C ONDO 02 • 10.125 6.25 X www.lawmtm.com MTM is a full-service Condominium & Real Estate Law Firm Experience, Integrity, & Drive Set Us Apart Uncommon Expertise for your Community of Common Interests Thomas Bhisitkul (617) 934-4603 tbhisitkul@lawmtm.com Kimberly A. Bielan (781) 817-4607 kbielan@lawmtm.com Christopher S. Malloy (617) 934-4604 cmalloy@lawmtm.com Douglas A. Troyer (781) 817-4605 dtroyer@lawmtm.com Thomas O. Moriarty (781) 817-4603 tmoriarty@lawmtm.com (781) 817-4900 30 B RAINTREE H ILL O FFICE P ARK , S UITE 205 B RAINTREE , MA 02184 (617) 934-4550 265 F RANKLIN S TREET , S UITE 1801 B OSTON , MA 02110 (508) 459-8516 39 T OWN H ALL S QUARE F ALMOUTH , MA 02540 C M Y CM MY CY CMY K of overlap, even across regions. New England Condominium spoke with several multifamily management and administrative pros across the country to find out how their communi- ties make sure new board members hit the ground running. Management Training According to Scott D. Wolf, managing partner at Brigs, a real estate management firm with offices throughout greater Boston, his firm provides new board members with CAI’s Board Member Toolkit. “In addition,” Wolf continues, “we offer to go through the association’s financials with them individually, to explain what they are looking at and how to interpret it. It also helps to walk the property with new board members to see what they see and let them know what management is look- ing at when we’re on-site. It’s very important that they understand the role of management as outlined in the management agreement. Lastly, we have several articles from over the years from New England Condominium Mag- azine and Condomedia, which we have com- piled and provide to both old and new board members on various subjects.” Michael Pesce is the president of Associa, a large real estate management firm based in New Jersey that handles properties up and down the East Coast. “I do the training for our newly elected boards personally, with the assistance of our community managers,” and be familiar with the building’s board min- he says. “I use a template outline that’s then utes—that will inform the new member on and makes use of outside resources to give customized for each of our managed com- munities.” The template includes sections on and bylaws. Before attending their first meet- fiduciary obligations, legal governing docu- ments, board responsibilities, insurance, and management report, supporting documents, whoever is joining the board to talk about our transitions. “The goal is to do more than just and the financial statements. These should be ongoing projects, the roles on the board, and a typical review of responsibilities—it’s to reviewed before the meeting, so they’re able to the requirements to participate,” says Anne. provide a roadmap for new board members ask informed questions and contribute ideas “We do also require that new board members to know where their power comes from, and or perspectives based on the facts.” what constrains it.” Daniel Wollman, CEO of Gumley Haft, a is an important issue that needs to be under- management firm based in New York City, has stood by new members. “They need to respect annually—and which may be easier \[to at- overseen the induction of new board mem- bers hundreds of times on hundreds of boards submitted by purchasers, or any other share- in his 30 years of managing cooperatives and holders and unit owners, as well as any other ber to thinking about the financial health of condominiums. He also makes himself avail- able to new board members. “A new board uments or other information don’t get shared encouraged to speak with current and former member needs some orientation,” says Woll- man. “They can call me, or meet with me, and board.” I explain the issues of the building—what’s currently going on, the nuances of different matters, projects, staff issues. It gives them or resources to provide a professional level of have not had the time for this as of yet.” insight to beginning their service.” However, training to new board members. Smaller as- along with the guidance, Wollman has some sociations and corporations may have to call vice for those contemplating board service, words of caution for new board members as upon existing board members to provide a Anne adds, “Honestly, I was out of my depth well: “Don’t come with a personal agenda. more personalized level of orientation to new for the first year. We were negotiating the roof Come with a view that you are contributing to ones. benefit the whole building.” Wollman also advises new board mem- bers that “the best thing a new member can for about a decade. The tight-knit community board president, she’s doing her best to short- do, just like in any new job, is to observe. New has a live-in super and a managing agent, but en the learning curve for freshman board members need to learn their board’s proce- dures, ongoing projects, and priorities. To have the manager conduct a formal orienta- do that, the new board member should read tion for new members. Instead, Anne herself current matters in the building, house rules, them a more general understanding of how ing, the new member will receive an agenda, a Wollman also stresses that confidentiality Cooperatives & Condominiums—“workshop the confidentiality of financial documents tend\] this year because it will be done virtually. matters that may come before the board. Doc- with a neighbor or any others outside of the board members as well, to learn about how it Smaller Properties Not all communities have the wherewithal hope to create an onboarding manual, but Anne S. is the president of a 56-unit co-op I found it took me a year of just listening to in New York City. She has served on the board understand what was going on.” Now, as the in an effort to keep costs down, they don’t members. orients newcomers on the building’s specifics co-ops are run. “I usually have a long conversation with attend the CNYC”—the Council of New York for new board members, which is held at least I find that this helps to orient the new mem- the co-op over time. New board members are all works. We also encourage questions, and pause in our meetings to explain stuff. We As a point of personal experience and ad- replacement, and there was so much to learn. WHAT NEW BOARD... continued from page 1 continued on page 8