March 2018

LOOKING AHEAD LARRY THOMAS, PCAM | CAI-NJ CHAPTER EXECUTIVE DIRECTOR

I ’d like to begin this month’s column by thanking all our community’s board members and committee volunteers. Without you all, we would not have as many successfully run associations as we have. New Jersey board members have evolved tremendously over the recent decades. This is due to the willingness of board members to better educate themselves on what their role is and to better understand the importance of creating an experienced team of support vendors and professionals. I started in the community management business over 35 years ago and I can say without hesitation that today’s community leaders are more informed and cognizant of their roles and responsibilities as board members and committee associates. Here is my take on what I see are the major improvements with our board members and I will follow with what I see are the areas that need improvement. Whenever I get contacted by a board member. I consider the governance of their association, I look to see who is managing and who the professionals are. I also look to see how many members of the community are registered with CAI and which functions they have attended. This gives me a sense of how dedi- cated or genuine the board is with properly running their association. Here are my key components to a successful community: • Transparency — A confident board will publish all their pertinent information in as many outlets as possible. I believe a “members only” section on the community’s website is the best place to provide these reports/ doc- uments. I also suggest that the associations insurance information and governing docs be placed in the “mem- bers only” section. • Communication — There is nothing better than being able to meet with a board member or the com- munity manager face to face to ask any questions about the community or see if an issue can be quickly resolved.

Several communities have designated specific times where a resident can meet with a board member or the community manager. • Education — I cannot stress enough the importance of being as up-to-date as you can possibly be with what is happening in the New Jersey community association arena. I often encourage our boards to not only allow their management teams to attend our educational events but to insist that they attend and report back to the board what was discussed. • Experienced Team — “Hire the best that you can afford” is my advice here. I too often see boards “set- tle” for a lesser quality manager or professional. An experienced, credentialed manager can properly lead your community and over the long run the extra cost will come back to you several times over. I also see too many boards get into the weeds with trying to manage the day to day operations. Boards should set policy and the staff and professionals should carry out these policies. I see way too many associations suffer due to micromanagement by the boards. • Forward Planning and a Succession Plan — The most successful communities plan far beyond the current year. I suggest creating a realistic strategic plan or a three-year operations budget. And finally, have a succession plan for your board positions. You can accomplish this by getting your key committee volunteers more involved with education and CAI. Remember, you can now sign up to 15 board members or key volun- teers for the cost of $295 per year. CAI-NJ offers several seminars and educational events designed specifically for our Homeowner Leaders. Please check out the calendar on the facing page for a list of these events. n

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