Now’s the Time To Review Your Continuity Planning Preparations
Community association managers can help prove their worth by prompting their clients to tackle an issue many probably haven’t considered — continuity planning.
Almost every association and manager have certain board members they rely most heavily on, often long-standing members with impressive amounts of both institutional and practical knowledge. What happens if one of those members dies, though?
Or what if a board has a falling out, is sued, or suffers some other type of crisis? Many associations could be left scrambling for everything from rakes, signage, and keys to important documents, financial information, and passwords.
That’s why they need to engage in continuity planning, says Joe Wloszek, a member of Hirzel Law, PLC, a Michigan-based firm that works with community associations. “But, when we propose it to a board, they usually say they’ve never really thought about it,” he says.
Your clients might be reluctant when you first raise the topic. It could strike them as an unnecessary hassle or seem overwhelming. In other words, you may have to sell them on why it’s so critical for smooth operations.
For starters, you might mention that such planning and preparation are part and parcel with the board’s fiduciary responsibilities. “Just from a governance perspective, it’s a worthwhile endeavor,” Wloszek says.
“The board also can reduce the stress and level of frustration down the line when an issue or lawsuit comes up and they have limited time to respond. Continuity planning can save you massive time, energy, and money.”
Learn how you can help your clients address this gap in risk management: