Sunreal Property Management Blog
Condominium Terminology Part I
Condominium Terminology
Part I
Annual Budget:
Although it is not legislated, conscientious development of an annual budget is an important duty (normally required by bylaw) of a condominium board. It’s the basis upon which contributions are levied and funds are collected for the control, maintenance and repair of the common property and the administration of the condominium corporation.
Annual General Meeting (AGM):
Once a year, a condominium board is required to convene an Annual General Meeting of unit owners. At the meeting, the retiring board provides owners with operational financial reports for the year past. Owners then elect a new board and deal with any unfinished new business, including (if required) appointment of auditors.
Conversations
In a conversation, are you a leader or a follower?
Leaders of a conversation tend to speak more than the other party. These people are generally problem-solvers and may speak as much as 94% of the time. Leaders attempt to “sell” their ideas to the other party, thereby persuading the change of the other party’s position. This can be an unfair and inappropriate method of gathering support for a particular position.
Is the leader of a conversation noticeably more of a conversationalist? Is the recipient of the leader’s ideas failing to speak as a matter of courtesy, lack of debate, or neither?
Personalities are a determining factor as to who will lead a conversation. Individuals with strong personalities will gain momentum in the perpetuation of their idea and will often persuade other parties to adopt their position more often than may be desirable.
A practiced conversationalist understands various personalities. Participation in the exchange of ideas is encouraged by this type of conversationalist to gather information prior to the decision-making process.
All participants must gain the skill of listening first, and sequentially providing an opinion on the subject. A lack of good exchange of ideas will make room for misunderstanding and disagreement, often resulting in a poor decision.
When speaking, speak slowly and provide pauses for other participants’ questions.
Always:
1. Ask open-ended question; if clarification is required, paraphrase the idea.
2. Ask questions that probe into other participants’ statements.
3. Stay involved, do not wander from a conversation.
4. Be genuinely interested in other ideas.
5. Do not be offensive or short-sighted when varying ideas are being presented.
6. Be respectful of all parties.
7. Acknowledge that the best ideas are often derived from the brainstorming of all participants.
8. Be fair.
Ethical Standards
Instilling Ethical Standards for your Corporation Board of Directors
Developing an ethical culture for your Corporation is a challenging exercise and requires a commitment from both the Board of Directors and the management company.
In order to develop an ethical culture, solid leadership is required and the outcome must be measureable. What methods are available to the Corporation to accomplish this task? The methods that are chosen to communicate with owners will define expectations of the Corporation.
Commitment to Excellence
“Committed to Excellence”
Wow, time is passing quickly. It is hard to believe that we are into the fall of 2009 and looking at 2010. Time flies so take time to “stop and smell the roses”.
This year has been full of challenges and mostly different from past years. There are success stories from the past and numerous successes already this year. Sunreal Property Management Ltd has been there to swiftly respond to the any challenges our Boards face. Our staff has been tireless in their efforts to ensure that the challenges are met and a great result has occurred. We recently teamed up with Wade Engineering to support and run another educational seminar with the topic of “building envelope” as our main item of presentation. The seminar was a success; all attendees learned what to look for and how to respond.
Board Team Values
Board Team Values
Everyone wants to be part of a winning team. How we function as a team determines our level of success. These team values will be a reminder to each of us that we are working together to build a great community here at ______________. The comment of Alex Haley, author of Roots will encourage us in our team venture: “If you see a turtle on a fence post, you know he had some help.” Together we can build a great community.
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