PETRO Commercial Service

Friend Us on Facebook SocialMedia Networking in Co-ops, Condos & HOAs

 With smart-phones dominating the cellular market, people now have Internet  access anywhere and everywhere they go. While shopping and “googling” are leading reasons to use the Internet, the rise of social media has changed  the way in which people interact with one another, businesses and government.  Earlier this year, the City of New York hired its first chief digital officer,  a former Bloomberg Businessweek “Most Promising Social Entrepreneur,” Rachel Sterne. She has been charged with developing Web 2.0 technologies and  social media initiatives geared toward connecting the city’s 83 agencies and keeping residents informed.  

 Like city government, homeowner associations, boards and management companies  are also looking to branch out for the same reason: to inform residents. “Social media creates a virtual community and that can be a great way to  accomplish community events and committees,” says Brandon Osman, director of business development for Metropolitan Pacific  Properties, based in Astoria, Queens. “It also helps with branding and the marketability of your community.”  

 A recent CNET report found that 27 percent of small businesses are on Facebook,  18 percent are on LinkedIn and seven percent use Twitter. While the Facebook  percentage may appear small, the report found that social media use in this  demographic has doubled, with 75 percent of businesses polled owning a page on  some type of social networking site. Boards and homeowner associations that  have not taken the plunge should consider the importance of having a social  media presence. For example, 64 percent of Twitter users and the 51 percent of  Facebook users say they are more likely to buy brands if they “follow” a company or are a “fan” of a company.  

 “Condos or HOAs who use Facebook or LinkedIn are seeking to expand its presence,” says Georgia Lombardo-Barton, president of Manhattan-based Barton Management,  LLC. “There might be a broker or possible buyer interested in that building’s profile that might not otherwise have considered it previously.”  

 While the writing is on (Facebook’s) wall, some remain slow to adopt, explains Osman. “We are aware that there is a social media frenzy these days, however, we are  hesitant of involving social media in our management practices as we feel this  can be a recipe for disaster,” he says, adding, “Yes, they are a community but do they all know each other well enough to  communicate personally?”  

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3 Comments

  • I'm a shareholder in My Building,The lady who happens to be the President,doesn't use the Board,to inform about anything that has to do with the Building,we've had 4 major Floods & a Fire ,she doesn't inform the insurance,just resently OCT 31 there was another FLOOD which ruined two Apts ceiling/walls,she told the other shareholders to suck it up and fix it themselfs,one of the weird things that I found,is as a president of director for the building,she take about 8% of the Building maintenance/RENTs,thats more than what shes payingin her own maintenance/RENT,it like she's living for FREE, plus she also taken extra for pitty CASH,for herself ,the building hasn't been replacing lightbulb in the Hallways,the WALL are mess up due to all the ware N'tare,She's a real SLUM-LORD,She even Fired the original super who was doing a great job in replace for her Drugselling Brother,who also is months behine in his RENT too,Question:How can the Shareholders FIRE her ass,when there are so many Elderly people,who don't understand why she letting the building become a SLUM-Building
  • Long Time Board Member on Saturday, January 28, 2012 2:02 PM
    In our quiet, friendly mid-size midtown co-op, purchases in the last five years or so have been primarily by young, business professionals. Previously at our annual meetings we often had a demand for more newsletters, etc., so 3 years ago an in-house website was started, everyone was informed and reminded a number of times, yet virtually no one uses it! We can only assume when in the comfort and quiet of one's own home, the opportunity to add on to an already too-busy online life is not of interest.
  • @Jose. Check your by-laws. In our building, we can remove directors with or without due cause with a certain percent of shareholder votes. If you don't have a copy, ask your managing agent for a copy.

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