Building on Trust

A successful co-op or condo board knows when to trust the experts — and how to protect itself against a violation of that trust. A prime example of this tricky balancing act is putting a project out for bid. It’s a case study in the importance of collaborative decision-making and teamwork, as well as an easy target for an unethical vendor to take advantage of an unsuspecting board. Our question this week comes from a co-op board member who knows the dangers involved and has successfully navigated the waters with small-scale projects, but wants to know if there are additional projects his board should take with a million-dollar job on the horizon.

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