17 Nov Q: How can I ace my co-op board meeting?
M.INT: It’s best to review your Board Package before your meeting to prep for any questions about your application. In particular, try to anticipate any financial questions that may arise and be prepared with a confident answer. During the Board Meeting, minimize any discussion of renovations. Most Boards will cooperate with a shareholder but may be reluctant to approve a prospective buyer if they think the buyer’s renovations will be too disruptive (especially if one of the Board members has an adjacent apartment) or too costly, thus depleting the applicant’s liquid assets.
Answer questions in a forthright manner but don’t volunteer extra information. While the meeting may remind you of a job interview, it’s a very different beast. To succeed at a job interview, we’re taught to volunteer information, to impress the interviewer and stand out from the competition. Now, when you are asked to come in for an interview with the Co-op Board, the Board is telling you that they are ready to accept you. Best not to talk yourself out of being accepted. And it’s best not to ask any major questions, as you should already have the answers beforehand. Above all, avoid giving the impression that you are “interviewing” the Board. Complement the building — never criticize. And dress conservatively, in business attire: the Board wants to meet in person the fine upstanding new resident they already believe you are.