One can run a successful co-op/condo board meeting. When all parts and details of the meeting are efficiently arranged and addressed. This is going to be a complicated affair. It is a lot more than maintaining focus and facilitating engagement. You’ll be busy for weeks before the meeting because you’ll have to plan the meeting, make board books, talk to board members, and do a lot more.
A board meeting is an important part of property management. It takes a different set of skills and experience to keep all board members informed, engaged, and on the same page to achieve the goal of the board meeting. In this article, let’s see how you can run a successful monthly board meeting.
Start With Planning the Agenda to have a successful co-op/condo board meeting
A good property management company always steps in right away when it comes to convening and running a board meeting. Even a board meeting for property management can’t happen without a detailed agenda. Before coming to the meeting, every board member will ask what’s on the agenda.
The agenda tells everyone about the specific issues they are going to address in the board meeting. Sometimes, the board meeting is convened to prepare for some upcoming events. It will create a much-needed organized structure to run the board meeting.
Sample Agenda/Meeting Minutes:
Call to order
- Attendees
- Members not in attendance
- Approval of minutes
- Reports
- Unfinished business
- New Business
- Announcements
Keep The Meeting On Track
This is one of the hardest aspects when it comes to running a successful board meeting. It is important to keep things on track. The meeting is destined to be fruitless if everyone is not focused. This is not possible without a detailed agenda. However, it takes much more than that to smoothly run the meeting. It is the responsibility of the board to make sure that the conversations and comments are limited to the topic of the meeting. A deviation from the agenda makes it difficult to run the board meeting.
The best property management company makes very informed decisions and keeps the right people on the board. They are able to control the flow of the conversation. This can be done by assigning a specific number of minutes depending on the position of the team member. All members of the board will get the opportunity to express their opinions on the issue. This is the best way to avoid any kind of deviation from the actual agenda.
Create Sub Committees for Different Areas
The involvement of committees is extremely important for the success of a board meeting. For example, the property management company is going to host an event; the company can set up a special committee for the event. The committee can do some research to make the event successful. Forming committees will save time during the meeting.
In Conclusion
Although this article only scrapes at the surface of running a Board Meeting, the main takeaway here is to plan ahead, inform, and keep on track. Meetings should be productive, concise, and empowering for all. ProRealty manages over 30 Homeowner Associations. If your Board is considering hiring a Property Management company or switching from a lackluster company, we encourage you to Request a Management Quote by visiting ProRealtyUSA.com or calling +1(888) 230-1578.
