Board Resource Guide: Training the Board Advice and Resources for New Board Members

Board members come in all shapes and sizes—literally and figuratively. In some buildings, no one wants the hassle of working a thankless job for no compensation, and the same four people are guilted into the job every year by default. In other buildings, a board membership is a badge of honor, carrying great cachet, and residents vie for the privilege. Some boards are honeycombed with inveterate presidents and treasurers unequipped to change with the times. Others feature young professionals—accountants, lawyers, hedge fund managers, and the like—whose skill sets dovetail nicely with the job description.

What do they have in common? When they start, with rare exception, they lack the requisite knowledge to effectively do the job. And in most cases, they have no idea what they're getting themselves into.

"I was a board president for eight years," says Herb Rose, president of Herb Rose Consulting in Manhattan. "We were always dealing with subjects we knew nothing about."

So a member of a co-op or a condo runs for a board position for the first time and gets elected. Now what? "Sell!" jokes Irwin H. Cohen, president of A. Michael Tyler Realty in Manhattan, "and move to Boise, Idaho!"

In all seriousness, there is a wealth of resources out there for new, inexperienced board members (and for board members with decades of service, for that matter). It's just a matter of knowing where to look. So what's out there? What are some tips on how a new board member can hit the ground running? What can existing board members do to ease the transition?

Read More...

Related Articles

A Look at the Westchester CCAC

A Sounding Board for the County's Co-ops and Condos

Being Grilled

Preparing for the Interview Process

A Board Too Far

When Boards Overstep Their Authority

 

Comments

  • ManhattanCoopPresident on Monday, September 01, 2008 10:31 PM
    A shareholder can't get their apt sold in this bad mkt and they complained we are known as a no building. No pied a terre, no live/work, rental fee surcharge, etc. THerefore, we asked all shareholders to voice their opinions of each topic. The results are 56% for these policies.Does this constitute the board having to incorporate their views? In addition, they all said they wanted to be on the board to evaluate buyer packages only. Hence, this difficult seller, would now have all shareholders evaluating their buyer. THis shareholder is selling, does not live in the building, vacated their apt and want sto participate on the board to vote in a buyer. I am concerned legally for the board .How can it be possible to have board members participate in this capacity? Isn't is a conflict of interest to have 2 shareholders that are selling their apts on the board only to act in a capacity of approving buyer packages (each would represent their interest when their apt comes up for review)? Is there a way to enforce board members to not be invovled with application packages if they are selling their apt (conflict of interest)? Please keep email private: coop3438@yahoo.com