Adventures in Self-Management WHAT'S THE BUZZ? TELL ME WHAT IS HAPPENING! Commissioning and utilizing a condition survey with the capital replacement plan for the association removes the surprise of the unexpected project cost, establishes a framework for planning for the common elements, and guides reserve funding goals. But equally important is the communication of the plan to unit owners so that they can appreciate the physical needs of the property over the long-term. Presentation of the capital plan by an outside independent expert-usually the engineering firm that helped to create it-at a special meeting is often effective in persuading unit owners about the necessity of reserve funding. Much of the anger that unit owners feel when the self-managed board announces the results of a condition study and replacement reserve plan that increases the amount of funding that is needed comes from lack of knowledge and understanding of the facts of the situation. Providing the unit owners with a written report about the capital needs of the property allows them to consider the issues and become comfortable with them. The board can distribute copies of the capital needs study or a summary document or provide a PowerPoint presentation to keep unit owners in the know. The board should explain how increasing fees by a small amount annually allows the association to build up the reserve fund instead of creating a situation where special assessments are necessary for projects. Knowing what funding will be needed in the future and collecting more money annually will better serve the association's needs and minimize the financial impact on the unit owners. It is also of utmost importance to convey to unit owners that by taking steps to manage the needs of the aging infrastructure at the property, safety is enhanced, and insurance claims and lawsuits will be minimized. The self-managed board should take the following measures to keep unit owners informed about the costs of common element replacements: l Communicate clearly, consistently, and constantly; l Connect the dots when providing information to unit owners; l Consider the needs, desires, and concerns of the community; l And cultivate collaboration by encouraging input and honoring feedback from unit owners. 34 CONDOMEDIA October 2021