Board Member And Vp Of Board
Executive Keys Council Of Co-Owners
Port Aransas, Tx
Served on the board of an oceanfront condominium complex with a $1M+/yr rental operation during the recovery from a hurricane that all but destroyed the 72-unit complex. During this time board commitment increased from a quarterly 2-hour meeting to monthly in-person meetings and much more frequent teleconferences and typically many hours/month of action items.While on the board I engaged in the following along with other members of the board and the Executive Director as we successfully restored the complex to like new condition and to where we could resume rental operations.Made decisions about an array of contractors (remediation, builders, trades, landscapers). Addressed issues when they arose and replaced contractors not meeting our needs. There were continuous and costly challenges over the course of this multi-million dollar, multi-year project.Personally communicated with and addressed the concerns of owners, collectively and individually. Presented on status and progress during owner's meetings.Oversaw finances throughout the rebuild. Spent carefully, set assessments and borrowed where necessary to mitigate the financial impact on owners. In the end we rebuilt to like new, were one of the first complexes to reopen, and had one of the smaller assessments on owners.Made decisions dealing with issues around insurance including engaging attorneys when appropriate and dealing with adjustor and payment issues.Met with code enforcement representatives to ensure our compliance, and to maintain positive relations during a period when we needed to pass hundreds of inspections.After the rebuild, in 2022, I presented the board with a strategic analysis of the rental business. This included a historical analysis of occupancy, rate, cost and profit trends and an array of recommended branding and product improvements that were implemented in 2023. The result of July 2023 has been an approximately 50% increase in revenue returned to owners.