Minding the Store An Educated Board is the Best Board

Congratulations, you’ve been elected to serve on your building’s board. You managed to convince the rest of the building that you know enough about building systems or law or economics or even people-pleasing to make them vote for you and give you a position of power.

Before you pop open that bottle of champagne however, it's helpful to know what you’re getting yourself into. While you may have convinced the other residents that you know what you’re doing, do you really understand the ins-and-outs of the building’s laws and politics, so that you can do a great job and make lasting, positive changes?

With Great Power Comes...

Managing a building that is both a home and an investment is a huge responsibility, and it’s one of the rare jobs that requires no previous experience—or even knowledge—of the work you’re about to do. Depending on your role (president, vice president, secretary or treasurer) you’ll be responsible for your own set of tasks ranging from balancing the budget to taking scrupulous notes and uploading them to your building’s website.

Some jobs even carry legal consequences, and you’ll have to be very aware of the building’s documents to make sure you’re following the rules exactly. Board members don’t necessarily come to the job knowing everything they need to know in order to fulfill their role—and veteran board members don’t miraculously learn new skills or gain knowledge of new legislation or protocols just by serving on their board.

Both new and incumbent board members need refreshers now and again, in the form of courses, seminars and newsletters designed to enrich their understanding and add new skills to their administrative and managerial toolkit.

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