STEP 1: Simplify, Simplify, Simplify!
Leave no room for interpretation. Tell a well-planned story and keep it very clear; leave no holes that require board members to fill in the blanks. Over simplify as much as possible. We typically create our own schedules to accompany the financial statements to further clarify information.
STEP 2: Perfection is Imperative
Strive for perfection when it comes to neatness and organization. Always read the directions very carefully. Also, boards sometimes request specific types of tabs, binders or font sizes, etc. Always check with the managing agent if you are unsure about what is required.
STEP 3: Full Transparency
Be transparent! Nothing is worse than a board discovering something important or relevant on their own that you chose not to disclose.
STEP 4: Character References
Try to find generally well-liked and non-controversial people in the building or on the board that you know and can speak highly of you. This can be very helpful!
