Share this post
Since running a Condo Board meeting can be a tricky affair, we have broken it down with our list of 7 helpful tips on how you can run an effective Board meeting to ensure the process is smooth, efficient, and enjoyable.
Being a Condominium Board member makes for a thankless role that’s not always easy. Board members typically don’t get paid, are expected to make no mistakes, and have to quickly become informed experts on topics they may have never heard before.
1. Property Manager
Your Property Manager is there to present precise budgets, reserve fund forecasting and investment, vendor management and to help run an efficient monthly Board meeting and Annual General Meetings (AGMs). Your Property Manager works closely with you, guiding you with important decisions
2. Establish an Agenda Beforehand
If you want to discuss something at the condo board meeting, ensure it’s included on the agenda beforehand so everyone has the chance to read background material or prepare their thoughts before arriving at the meeting. Most meetings follow “Robert’s Rules Of Order“; here is a quick reference for meeting procedures.
3. Budgets, Reserve Fund, Risk Management
Much of the Board’s meeting time will be spent on how to allocate costs, how to budget for next year and prepare long-term. Part of the Board’s accountability is to ensure risk is mitigated in as many ways as possible, including insurance. Board members can access MYWebPortal to download a copy of the latest financial reports including cash flow, balance sheets, financial statements and much more to review before a meeting.
4. The Chairman
New members of Boards don’t have to worry too much about the mechanics of the condo Board meeting. In the end, the Chairman of the Board runs the Board meeting according to the agenda which they will distribute in advance, along with any accompanying documentation.
5. Decision Making
After allowing enough time for sound discourse on the subject, the Chairman will drive the Board towards a decision. The Chairman will ask for a “motion”, one director says “I move that…”. The Chairman then asks for a “second”. “I’ll second that”. Both names are recorded. All in favour? A vote is counted. A final “pass or not” motion is made and recorded in the minutes. It’s important to stick to the topic to avoid falling into a new subject, before a decision has been made and recorded.
Major decisions made by the Board will be recorded by a pre-appointed secretary. The minutes will be approved at the next meeting. Accuracy and attention to detail of minutes is vital.
7. Vendor Selection
As a Board member, you should have a complete view of necessary maintenance and repairs required for your property, as well as financing options. Your Property Manager will identify and manage vendors to ensure delivery of outcome as expected.
Online Board Meetings are becoming popular as we navigate through this COVID-19 pandemic. Joining an online meeting through Teams is a simple process that allows you to continue to run effective Board meetings from the comfort of your own home. Need help navigating Teams? Follow our “How to” video guide here.
Looking for more information on how to be a great, effective Condo Board Director in Alberta? Click here to download our Magnum York eBook.