Condo Media - January 2013 - (Page 54)

SELF-MANAGED ASSOCIATION BOARDS by Patricia Brawley, CMCA, AMS, PCAM Adventures in Self-Management A Tale of Two Condos “It was the best of times, it was the worst of times ... ” — Charles Dickens bout 25 years ago, a fairly wellknown developer built two townhouse condominium communities, one on the North Shore of Boston, the other in Metro west. The construction of these two condominiums was identical in every way: same architectural detail, same quality of workmanship and materials, same roofing systems, same clapboard siding, same wooden decks. They were, in short, twin communities. The developer, during the marketing years for his two condominium communities, spent time and money to ensure that his units would fetch the highest possible sale prices. He invested in the exterior decoration and landscaping to keep curb appeal competitive with surrounding properties. The relatively new mechanical systems operated satisfactorily and the building envelope was keeping the rain and snow out, for the most part. Condominiums had become a popular choice for a first-time homebuyer or empty-nester and unit sales at the twin condominiums were brisk. Several years and many sales later, in accordance with the condominium documents, the developer turned over the governance of the two communities to the unit owners, under their respective elected boards of trustees. This is the point where the two twin communities begin along their separate paths to the future. Both condominiums opted for selfmanagement. They were largely owneroccupied communities with strong social interaction among residents and healthy reserve funds, as a result of early involvement in the transition from the developer and the availability of comprehensive replacement reserve and condition studies. The initial unit owner boards paid attention to the developer’s care and feeding of the common elements and equipment and were focused on the needs of the twin properties. They each established a strategic plan for their association, short and long-term goals and objectives and drafted operating budgets A 54 CONDO MEDIA • JANUARY 2013

Table of Contents for the Digital Edition of Condo Media - January 2013

Condo Media - January 2013
From the CED’s Desk
President’s Message
CAI News
CAI Regional News
Asked & Answered
Homeowner’s Corner
Vendor Spotlight
Industry Perspective
Self-Managed Association Boards
Classified Service Directory
Advertisers Index

Condo Media - January 2013