Board Member Seeks Digital Revolution
| HEY OGI, I would really like your opinion on something… [Name removed]’s (our current manager) excuse for not doing some work digitally, such as [buyer] applications, is that sensitive financial information such as tax returns, can be easily leaked over email. What is the way around this? Aside from putting everything on a CD four times and then distributing to the Board by hand … can’t there be a more secure way of forwarding such information to the Board, like posting it temporarily on a secure page or secure inbox for their review?Can you please put in your two cents, I’d really really appreciate it. I understand that Recognition Agreements (and I believe, the Commitment Letter) have to be signed and sealed originals but that is easily done after a review of the whole package. Our management company charges us $50 for a credit check and $250 for an application fee (besides the $450 we pay to the Coop) for doing very very little. BEST,  |
 DEAR UNDER THE LUDDITE’S THUMB, Our two cents? You are being taken advantage of. Sensitive financial information can indeed be leaked over email. However, that doesn’t justify making your role as a board member more difficult. Regardless of how the confidential documents are distributed to the board, it is up to each board member to make sure they handle the information responsibly. Your contact is using that explanation to hide backward or out of date technology practices. One way around this could be a password protected website or webpage. Decent managers can can give different levels of access to board members, residents, etc. Nothing is foolproof, but some systems make property owners’ lives easier than others. Paper is the worst for many reasons (cost, speed, trackability, environmental impact etc.). Even so, as you mention, some documents still require original signatures. On those, there’s no way around paper. A $50 credit check and $250 processing fee are industry standard. Neither is a bargain, but neither should change a board member’s vote. They are both usually passed through to renters or new purchasers. Two forces that drive private sector processes should be ease of use and customer service. When you have trouble finding these with your vendors, start looking for alternative solutions. WARM REGARDS, THE OGI TEAM |
