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SpinDistribute.com Article Directory

The following article was published in our article directory on September 11, 2012.
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Owner and Board Communications: Are You Communicating?

Article Category: Real Estate

Author Name: Charles H. Maness, MSACC

Communications is all about relationship building. Clear, concise, honest communications will serve the board and management far better in the long run. Owners want the truth and they want to be informed. To form a relationship with the owner, the board and management must set boundaries and foster honest conversations.

Balance is an important factor in communicating with owners. With the hectic lives of the modern day owner, the need for concise, well planned, and informative information needs to be issued on a timely and set manner. Although most people have email in today's world, emails can overload the owner and should be used in small amounts. Notifications and planned updates are fine via emails; however, the management company should take care to protect the email addresses of the owners. Using BCC will allow the emails to be sent without disclosing private information.

Newsletter should be kept short to no more than one to two pages at max. Fonts should be readable at a level of 12 or above. It is recommended that font styles be limited to no more than 2 to 3 in the entire newsletter. We normally use 1 font for the marketing header and a second clear font for the body. A single font can also be used; but, this tends not to grab the owner's attention and may be overlooked. We also keep our newsletters to one page. More than one page and the owner may determine that they need to read the information later. Later may or may not come in our busy lives. Colors and a logo often brand the association and can add pride to the newsletter for the owners.

Projects are another opportunity to share updates and communicate with the owners. Opposite from newsletters, projects should incorporate a project plan to let the owners know what will be occurring and when. The plan does not need to be detailed; but, should include basic information of the project name, the scope, and a timeline of important events, dates, and times. Basic project summaries can also be used to add a personal feeling to the notices.

One of the most important times to communicate is the annual meeting. This is the time for complete transparency in giving the owners an overview of current year close: accomplishments, budgets, financials, and explanations of any overages. It is also important to offer a review of cost cutting measures and a plan for the upcoming year that includes the budget, projects and goals.

This is also a time to allow owners to communicate directly with the Board and Management. Too often, managers restrict the natural flow of communications to hold time restraints back. Although controlling the meeting and staying focused are essential management requirements, there should also be an open discussion time period for the owners to communicate with the board and management. Rules of conduct should be sent out before the meeting for participating in this discussion.

By learning a few basic communication skills, the owners, board, and management can all move to a more effective and meaningful association relationship. A meaningful relationship between all parties will serve the interests of the association in accomplishing, managing, and maintaining a cohesive and productive group.

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