As Calgary condo board members, your role is not just to oversee the performance of the corporation but also to communicate effectively with owners. One of the key tools for this communication is the board meeting minutes. However, striking the right balance between transparency and protecting the value of the property can be a tricky line to walk.
In an ideal world, every detail of board discussions would be available to owners, ensuring transparency and building trust. However, we also need to consider how these details are perceived, especially by potential buyers reviewing the documents during the purchase process. While transparency is important, oversharing can sometimes create the impression that a building is overwhelmed with issues, even when those issues are being effectively managed.
Take, for example, a situation one of our clients navigated recently. A past board member had been sending the board dozens of emails each month, making excessive demands. Initially, the board aimed to document this owner's unacceptable behaviour in the meeting minutes, intending to show owners that the board was taking this concern seriously. However, this approach led to feedback by realtors that portrayed the building as unstable and full of conflict, deterring some potential buyers who feared that the building was a "soap opera".
While it's important to document issues that have a material impact on the corporation, we’ve found that balancing this with positive actions and outcomes helps manage perceptions more effectively. For example, alongside documenting the challenges, the minutes also highlight the proactive steps the board is taking to improve the community, from successful projects to enhanced security measures and resident satisfaction initiatives.
Once approved, board minutes become a legal record of what occurred during the meeting. Poorly taken meeting minutes can lead to negative perceptions. Additionally, the last thing you want is to expose your board to liability by incorrectly communicating facts.
It’s about telling the full story, one where challenges are met with solutions, and the overall trajectory of the building is positive.
Key Takeaways for Calgary Condo Boards
Document decisions accurately and without bias. Avoid adding unnecessary details that could be misinterpreted.
Balance the documentation of issues with the board’s successes and proactive measures. This approach helps maintain a positive perception of the building.
Ensure that the minutes are consistently formatted and presented. This not only aids clarity but also enhances the professionalism of the documentation.
When dealing with legal threats, you may want to consult legal counsel on how best to document these in the minutes to protect the board's position and the building's reputation.
By finding the right balance in your board meeting minutes, your board can maintain transparency with current owners while also protecting the property’s value and ensuring a positive perception among potential buyers. Effective communication is about being open, honest, and strategic in documenting the board’s actions and decisions. This will help foster trust, protect the building’s reputation, and support the long-term success of your condominium corporation.
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