Let’s create a strategic plan around strengthening reserves and updating the common areas so they look less like the 1980’s and more like homes built in the new millennium.
Evaluate. Take an honest look at where the association stands on reserve levels and curb appeal. Tis is harder than it seems, and everyone should feel free to share. Get it all out! It can be cathartic to finally re- lieve yourself of pent-up thoughts that have been nagging at you. Are reserves really at the proper level at 60% funded? Is choco- late brown still hip as a trim color in 2019?
Identify what’s important. At this point, there are no bad ideas. Everyone gets to share and by memorializing what’s impor- tant for the plan, there is a better chance of developing a plan. Ask yourself, how will these ideas help the community over time?
Define what you must achieve. Create steps that help implement ideas into a plan. Tere may be outside experts who can help with this step. For buttressing reserves, the association’s reserve analyst will be helpful. For an older community, architects or en- gineers may be needed. For freshening up
the community’s look, a designer, land- scape architect, or color consultant may be needed.
Look at how major reserve components impact each other. For example, if the unit roofing will need replacement in five years based on the reserve study, look at how the exterior painting (typically done every five to ten years) can sync with the roofing. Ev- ery association only has a once in a genera- tion opportunity to make these integrated choices, as most roofing materials have a life of 20+ years.
On the operations side, review vendor contracts and performance. Perhaps the association needs to look at how the as- sociation vendors dress and act while at the association. Do they have uniforms? Play radios loud? Can their services be expanded to help with other tasks? Does the association have flaky red curbs and a potpourri of signs? Te plan can deal with these opportunities when the contracts are up for renewal or the reserve study/budget is updated.
Determine who is accountable. Te old saying is true. “If everyone is accountable, no
one is accountable.” Te planning team needs a team leader, a note taker, deadlines for all, and all of the other implements to keep folks on task. Everyone is busy these days. Tech- nology is your friend with the cloud, shared drives, calendars, messaging, etc.
Review and Feedback loop. Assuming the board adopts the strategic plan, the work is not done. Its only starting. Te plan needs monitoring with a feedback loop so adjust- ments can be made in real time as needed.
Remember to keep expectations in check. Strategic planning committees, even if they are stacked with board members, are still a committee of the board. Committees rec- ommend and boards decide, and that’s the way it will always be.
Tere are several excellent references and web sites available for step by step guidance on creating a strategic plan. Forbes was used as a reference for this article and has many tools available on their media platforms. Professional facilitators are also available to assist boards with this important element of managing communities. Tis is just a snippet of an import process often over- looked at community associations.
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