Page 9 - SFL Cooperator Fall 2020

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THE SOUTH FLORIDA COOPERATOR —
FALL 2020
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building staff s have had to deal with these a 32BJ union member who has worked as a
issues.”
Stoller also mentions the fear and un-
certainty surrounding the escalating social press release on the subject: “the best ‘thank
unrest in his city and elsewhere, which can you’ is to be paid for your essential work
have broader implications for those who and have job protection.”
are not isolated in their homes. “In many
cases,” he says, “[staff members] are coming for the planet—try to consolidate all those
across the city to get to work—and in many Amazon orders!
cases they’re taking public transportation to
get to their jobs. Th ey’re traveling at night
and on weekends, and we have to ensure
their safety and well being also. It has cre-
ated a stressful environment for the people
who have been working—and, in so many
cases, been doing an amazing job. Th ese
people have really stepped up and have re-
ally showed that they care a great deal about
the buildings they work at.”
Showing Support
With all of these added responsibilities,
heightened health and safety concerns, in-
creased resident presence, and raised expec-
tations for staff , it begs the question: Along
with verbally expressing their thanks, what
can the boards and residents of multifamily
buildings and communities do to show ap-
preciation and support for their property’s
workers? Our experts gave us some action-
able recommendations:
• “One thing residents can do is to just
be aware of protocols and follow them,” says
González of 32BJ when we spoke again for
this article. It seems simple enough, but as
we all know, people are not always respect-
ful of rules, limits, and even visible barriers.
When you see the tape around the doorper-
son or security desk, keep that six foot dis-
tance—and wear your mask in all common
areas of your building or community at all
times. Don’t expose your building staff ers
to unnecessary risk—and don’t put them
in the position of having to remind you of
rules that should be second nature by now.
• Arnold stresses that responsibility for
the well-being of staff is among the gover-
nance duties of residential boards, and says
that clear, unambiguous messaging—like
posting policies in common areas and insti-
tuting fi nes for disregarding them—help to
empower staff to make sure that residents
are complying with health and safety pro-
tocols, which in turn helps them feel more
comfortable about their own safety on the
job.
• Managers DiFlaminies and Stoller both
indicate that encouraging staff to take time
off is a good way to support their well be-
ing, both in the physical sense as well as
the mental and emotional. Giving work-
ers extra PTO (if their paid time off is not
stipulated by a union contract) not only
promotes goodwill—it also goes a long way
toward allaying health concerns and pro-
moting stability and security in the work-
force.
An additional way to support property
workers is to pressure the federal govern-
ment to give them hazard pay for the es-
sential work they have been performing
over the last half a year. As Louis deJesus,
doorman in a building in Manhattan’s Up-
per West Side for the last 25 years, said in a
And fi nally, for your building staff and
n
Darcey Gerstein is Associate Editor and a
Staff Writer for Th e South Florida Cooperator.
is not your first step. Begin your belt-
tightening, continue your collection (and
communication) efforts, and get in touch
with your legal counsel to find out if you
have any state-law or governing docu-
ment limitations. Then make sure you’ve
gathered current financial information,
including financial reports with bank
balances, your year-to-date budget, any
delinquency reports, and your most re-
cent reserve study. Once all that informa-
tion is compiled, your board and finan-
cial advisors will be better positioned to
weigh the options available.
What Are a Board’s Options?
There are three ways reserves can help
rescue an association in financial crisis:
• Conserving cash by deferring re-
serve projects
• Reallocating cash from reserves to
operating funds
• Saving cash by bargain shopping
Conserving Cash
In a time of financial scarcity, a good
standard rule is to minimize your spend-
ing by prioritizing expenses, including
reserve projects. But not all projects are
equal! Don’t defer projects that will ex-
pose owners to even greater problems
or expenses—postpone less consequen-
tial reserve projects (like new carpet in
the rear stairwell, for example). Double-
check before replacing the perimeter
wood fence; can it last another year with
a few repairs? With the clubhouse closed
because of the pandemic, is this really the
time to spend $50,000 on remodeling it?
If cash permits, sure—in fact, it might
be a great opportunity to do the remodel
when no one is using the clubhouse—but
if cash is tight, defer the project to 2021.
And anything related to maintaining
building integrity, like building painting
or roof work, should definitely not be put
off. Don’t make things worse by risking
expensive problems like dry-rot or water
damage that could have easily been pre-
vented. Similarly, projects that protect
the best interests of the owners (like the
central hot water heater, or automobile
gate mechanism) are projects that you
should perform on schedule. Make sure
you spend precious reserve cash only on
projects that cannot be readily deferred.
continued on page 10
TAPPING RESERVES...
continued from page 1
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