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HOW LEGAL/FINANCIAL PROBLEMS ARE SOLVED BY NYC CO-OPS AND CONDOS

Warning Signs: Do Your Monthly Meetings Go on Forever?

Stuart Saft in Legal/Financial on May 20, 2015

New York City

Illustration by Jeff Moores
May 20, 2015

Trim the Fat

Monthly meetings should not last longer than an hour unless there is a particular topic that needs to be addressed. The question is how to do it? Here are some techniques:

  • Impose a "three strikes and you're out" policy. You can amend the bylaws so that members who miss more than three meetings in a 12-month period are deemed to have resigned.
  • Ensure follow-up. Part of the reason that issues never seem to be resolved is there is no follow-up. One solution is to invite the super or other professional to attend the beginning of every board meeting and deal with operating issues before the board does anything else. Even if you have to pay them for their time, it makes things go far more efficiently.
  • It also makes sense to have meetings about the budget at the managing agent's office so the budget analyst and other professionals can attend. You also have access to the agent's computer to run "what if?" scenarios.
  • Pass a "no reruns" resolution. To stop board members who want to revisit previous decisions, you can pass a resolution that no issue that has been decided upon can be revisited without the approval of a majority of the board or, at least, more than one member.
  • Know your rules. Finally, boards may be frequently revisiting the same issues because no one remembers or is aware that the board already has a policy regarding that issue.

Board meetings do not have to take on lives of their own. Be proactive and take the steps necessary to keep them focused and on target. You'll be improving the operation of your board, and that's something everyone will appreciate.

WarningSigns_0515_Moores

 

Illustration by Jeff Moores

Stuart Saft is a partner at Holland & Knight.

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