Bobby Sher, President, Bell Park Manor Terrace, Queens. One in an occasional series of real-life stories by board members about serving on co-op and condo boards. in Board Operations
To address shareholders' complaints, I started by opening up the lines of communication. I made it a top priority to write a "President's Message" each month, with a subheading that explains my intention: "Your Front Row Seat in the Board Room." I feel it's important to keep everyone in the loop.
Eventually, through regular communication and hard work, we got a lot accomplished:
Our shareholders appreciate the effort. To date, we are only the second co-op in Queens allowing shareholders to convert apartments over storage rooms into finished basements. A family that might want to move into a private home for its children's sake doesn't have to anymore, considering all the new space.
I could never have accomplished a thing, however, without my extremely smart and pragmatic board colleagues. We may not always agree, but in the end, when those tough decisions have to be made, we take care of business.
The One That Got Away
I do have one regret, though. In 2007, we embarked upon a large asbestos-abatement project. Considering our size, one can imagine how costly and inconvenient a project like this can be. We had a shareholders meeting where many residents were furious with the board for not giving them enough notice. The residents were angry about the additional financial burden that was being imposed, as well as the intrusive inconveniences, such as having to completely clean out their garages and storage areas.
I do regret that we didn't give the shareholders enough time to absorb the situation. Ever since then, we always give plenty of notice along with detailed explanations for any major projects. Transparency and honesty are paramount here.
With all the changes and implementations that took place, I personally had to take a lot of heat and criticism from the shareholders. "There goes Bobby again with his crazy ideas!" I understand. Many people are scared of change. Shockingly, however, as I walk through my community I now receive compliments — "Hey, Bobby, keep up the good work" or "Make sure you tell the board how good a job they are doing."
I guess not having a maintenance increase this year didn't hurt!
Adapted from Habitat February 2012. For the complete article and more, join our Archive >>
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