BRISTOL MANAGEMENT SERVICES, INC.

Bristol Update – March 2003

       SURVEY

 

Last year, Bristol sent a Survey at random to some of the owners in the communities we manage.  This year, we sent a similar Survey at random to some of the Board members.  The analysis of the Homeowners Survey from last year indicated to us that most of the owners were satisfied.  Out of the same analysis, it was evident that a clearer understanding on the part of the owners of what the Associations are responsible for was needed.  Consequently, during this past year, we have tried to better communicate our responsibilities and the Associations’ responsibilities to the owners.

This year, the Board members surveyed reported overall they were satisfied and pleased with Bristol Management.  They also expressed that the managers are knowledgeable and are prepared.  The Survey also showed Bristol needs to improve on following up on Board actions.  Interestingly, some of the Board members felt the Board Meetings needed to improve and be conducted more efficiently, but felt that the lack of efficiency at the meetings was not the Manager’s fault.

JUPITER 1930 Commerce La. Suite #1 Jupiter, FL  33458 (561)575-3551 (561)575-5423(FAX)   STUART 735 Colorado Ave. Suite #3 Stuart, FL  34996 (772)288-7255 (772)288-7203(FAX)   NATIONAL 1-800-340-4546

 

Overall, we received good comments on our financial reports for accuracy, however, some Board members expressed that more time needs to be spent on explaining how to understand the financial reports.

 

The Survey illustrated Bristol needs to improve its Work Orders and tracking violations systems.  Therefore, Bristol will be switching to a state of the art residential property management software system (TOPS Software), which will enable Bristol to meet its ongoing goal of improving customer service.

 

We were surprised how few Board members had visited Bristol’s Website - only 30 percent.  Yet, 57 percent have emailed us.  We have spent a lot of time trying to make  the  Website  a useful tool for  all  our  clients,  and  we  hope  more will visit our Website at www.bristolmanagement.com.

 

 

 

 

 

 

 

 

 

 

Frankly, we were surprised that 68 percent of the Board members did not want to have Board meetings in the morning or afternoons even though Bristol was offering complimentary breakfast or lunch at these meetings.  In a very positive response, 75 percent indicated they would attend a seminar on Associations and would like an Orientation for new Board members. 

 

In response to the Survey question about Bristol becoming involved in real estate sales, it was very clear most of the Board members felt it was a poor idea.  Therefore, Bristol will not at this time be moving toward that venture.

 

Nadine and I would like to thank all those Board members who took time to give us their input and share their thoughts.  We will try to use the Survey findings and your responses to continue to improve our service to your Associations.

 

 

 

SEMINAR / ORIENTATION: 

Because a majority of Board members said they would like to attend a Seminar, we have scheduled two Seminars.  The Jupiter Seminar will be at New Haven at Abacoa (New Haven South Clubhouse) on Saturday, April 5^th, 2003 from 8:00 AM to 12:00 noon.  The Stuart Seminar will be on Saturday,  April 12^th, 2003 at 8 AM to 12 noon at Indian Riverside Park, 1707 NE Indian River Drive, Dockside Pavilion, 2^nd floor, Jensen Beach, FL. While all owners are welcome, it is designed to address the questions of Board members or owners wishing to serve their community.  Please RSVP, as refreshments will be served.

 

Both Seminars will have four sessions, and each session will last approximately 50 minutes.  Seminars will be on:

ü      Legal - Collections, Covenant Enforcement.

ü      Insurance and Reserves - What the current insurance condition is and the various types, and why we have reserves.

ü      Financials - Back to basic accounting, how to read them and the best practices.

ü      Meeting Protocol Parliamentary Procedure for small Boards, and what has been proven to work-Success Story.

 

Hope to see you at the Seminars.

Steve and Nadine Inglis

Owners

Bristol Management Services, Inc.

 

 

BOARD MEETINGS LASTING 3-4 HOURS

Helpful Hints to Shorten Meetings

Because getting qualified people to serve is difficult, having marathon meetings is the best way to chase them off. The Board of Directors should receive a meeting package approximately three to four days before the date and time of the meeting. The Board President and the Manager should set the meeting agenda. Other Board members should call in items they would like on the agenda.   If  not  on  the agenda, unless it's an emergency, the item should not be discussed, but put on the agenda for the following meeting date. This allows everyone to give some thought and research. I often see new Boards pass the same resolution that previous Boards have passed in prior years.  It also does not give the management company time to make solid recommendations that have worked in other communities that have proven successful.

The meeting packet should be prepared in the same chronological order as the agenda. The manager should have at least one meeting with the president before the Board Meeting to understand the issues and meeting priorities. Board members should set policy, not the day-to-day implementation.

 

Board meetings should be held in an environment that enhances productivity. The manager helps to maintain a business-like atmosphere. Having meetings at someone's home, or having food and drink, especially alcohol can be disruptive. Plus, residents could later say the Board member was intoxicated.

 

Directors who are perpetually late or don't show at all can stifle a Board's productivity. The Board President, not the Manager, should address this situation.

 

Most associations can be just as effective with less than one meeting a month. If a meeting is run efficiently and effectively, Board members will be happier and they will need to schedule fewer meetings.

 

Keep the meeting tied to the agenda. It is the President's job to determine the flow of the meeting.

 

1. Discuss only one subject at a time.

2. Give each Board member a chance to speak.

3. Speak only on the issues being discussed.

4. Address questions and comments to the chair.

5. Decide issues through motions, seconds, and votes of the board.

 

Sometime owners who attend the Board meetings are not familiar with the meeting procedures. At the beginning of the meeting, the President should explain the meeting process and state when the Board will accept comments from the homeowners.   The policy of when homeowners may comment must be followed consistently, not just with the gadfly. The gadfly is an "expert" at criticizing, cajoling and pinpointing the error of others. This person demands change, but rarely devotes the time or effort needed to create positive change. The gadfly often emerges at association meetings and tries to create an atmosphere of chaos and paralysis.

 

Taming the gadfly is difficult. Don't respond in anger; instead ask for their recommendations. They usually don't have any. Or ask them to volunteer which usually frightens them off. Once they see you want them to do some work, they become less involved.

 

At the end of every meeting, thank everyone for attending and set the time and place for the next meeting.

Steve Inglis, PCAM, is President of Bristol Management Services, Inc. in Jupiter, past President of the Community Association Institute (CAI) and has earned the PCAM Designation through extensive Association Management training.

 

 

 

Bristol Seminar – Two Locations

 

Saturday - April 5th, 2003 8:00 AM – 12:00 noon Location:  New Haven at Abacoa New Haven South Clubhouse Jupiter, FL	Saturday - April 12th, 2003 8:00 AM – 12:00 noon Location:  Indian Riverside Park 1707 NE Indian River Drive Dockside Pavilion, 2nd floor Jensen Beach, Florida
8 –   9 AM        Jane Cornett, Esq. 9 –  10 AM      John Frasier, R.S. 10 – 11 AM      Kevin Payne, CPA 11 – 12 noon   Steve Inglis, PCAM 8 –   9 AM        Gary Fields, Esq. 9 –  10 AM       Bob Rives, CPA 10 – 11 AM     Don Brady–RV Johnson, Insurance 11– 12 PM      Steve Inglis, PCAM Insurance

 

 

 

 

KEY ITEMS IN PRESENTATION

 

I.                 ATTORNEY:

1.      Collection Procedure/Policy

2.      Covenant Enforcement

3.      Bankruptcy

4.      Foreclosure

5.      Association Borrowing Money

6.      Documents, Declaration, Bylaws and Articles

7.      Written ACC Guidelines and Rules & Regulations

 

II.  ACCOUNTING:

1.      Accrual vs. Cash and why

2.      Report:

a.   Income Report

b.     Balance Sheet

c.      Budget Comparison

d.     Expense Register

e.      Receivable Report

 

3.  Year End CPA Report:

a.      Compilation, Review, Audit

b.     State of Cash Flow

 

4.  Fund Accounting:

a.  Operating

b.     Reserve

 

III.   INSURANCE :

1.    Property Insurance, Current

       Insurance Market

2.      Director & Officer Liability

3.      Loss Assessment

4.      Fidelity

5.      Building Ordinance

6.      Insurance Appraisal

7.      Umbrella Insurance

 

      RESERVES:

1.      Condo vs. HOA

2.      Why?

3.      What should Reserves be for?

4.      Waiving Reserves

 

IV. BEST PRACTICES:

1.      Meeting Packages

2.      Meeting Protocol

3.      Roberts Rules for Small Boards

4.      Policy – Trucks, Pets, and Inspections

5.      Board using Good Business Judgment

 

PLEASE R.S.V.P.

 

BRISTOL MANAGEMENT SERVICES, INC.

1930 Commerce Lane, Suite 1

Jupiter, FL  33458

(561) 575-3551

Fax (561) 575-5423

1-800-340-4546

www.bristolmanagement.com