First Time on the Board? Here's What You Can Expect
Sept. 28, 2015 — In this week's Ask Real Estate column in The New York Times, a longtime resident and shareholder in a Greenwich Village co-op asks Ronda Kaysen what he can expect if he decides to run for his building's board. Kaysen opens with an important dose of realism: "There are many thankless jobs in this world, and being a member of a co-op board often makes the list. It is an unpaid — and frequently time-consuming — position. When things go awry, your neighbors blame you. But it has upsides. You get to know the inner workings of your building and help decide its future." Some boards are more hands on, while others prefer to let their managing agents do the heavy lifting. If you're wondering what you can expect as a first-time board member, be sure to check out our extensive coverage on everything from board politics to reading a financial statement. We've also compiled five articles that offer a snapshot on board life:
- Three board veterans dish on what it takes to serve year after year.
- A board president reflects on the lessons he’s learned.
- See how serving on a board means automatic enrollment in continuing education in financial planning, contracts, management, and more.
- Check out how something as simple as a survey can help you maintain harmony in your building, especially when tackling hot-button issues like lobby renovations.
- A board shares how it managed to protect its building from a shady managing agent.