Recruiting successors
The existing directors should be on a constant lookout to recruit
credible candidates to replace themselves to insure the long-term
health of their non-profit corporation because the recruiting and
training of successors is the board of directors' most important
long-term responsibility and it is most boards' biggest failure.
The condo is a non-profit corporation just like a boy scout troop, an
animal humane society, a service club or a trade union and just like
all
non-profits, it has to have a steady supply of volunteers
willing and able to step in to replace the directors because they will
sell and
move away, die off, get burnt-out, get voted out or lose interest.
The Whopper
The
biggest whopper isn't found at a burger joint. It is when the
developers and real estate agents tell prospective buyers that when
they purchase a condo, they pay one cheque a month to a professional
management company so they can live a
worry-free life-style.
The truth is that condos are managed by unpaid volunteers who need
skills and experience to
make difficult decisions and carefully guide, monitor and control what
the
"professionals" are up to.
Guess where the unpaid volunteers come from? The moon?
They must be
recruited from the very people who were told they were buying a
"carefree lifestyle" and who then find that they are an owner of a
corporation that has bills to be paid, water pipes that need fixing,
roaches that need exterminating and neighbours that need to be told to
keep the noise down and to stop allowing their dogs to pee in the
elevators.
This can be a bit of a shock.
However, a condo corporation that is successful in recruiting ethical
and competent successors will be successful and those who don't will
flounder.
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