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Brooklyn Property Management Blog of ProRealty

Design thinking is making positive waves across industries and is enabling companies to rethink and rebuild the way they do business. The same is true for banking and financial services companies, as today’s rapidly changing consumers are...

How to Run a Successful Co-op/Condo Board Meeting

Brooklyn Property Management Blog of ProRealty

Design thinking is making positive waves across industries and is enabling companies to rethink and rebuild the way they do business. The same is true for banking and financial services companies, as today’s rapidly changing consumers are...

How to Run a Successful Board Meeting

One can run a successful 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 will be preoccupied weeks before the meeting as you will be involved in meeting planning, creating board books and communicating with board members and 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

A good project management company always steps in right away when it comes to convening and running a board meeting. You cannot even convene a board meeting for property management without creating detailed agendas. All board members will ask about the agenda before coming to the meeting. 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. The agenda 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 some 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 take-away 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.

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