Residential Estate Industry Journal 4 - Page 18

RESIDENTIAL COMMUNITY REVIEWS WHEN COMMUNITY BUILDS TOWARDS UNITY Shakespeare’s King Henry IV says “uneasy lies management problems and challenges must still the head that wears the crown”, and while we be met in a timely and effective manner. This are not wanting to burden anyone with regal is a balancing act in which the classic dilemma trappings, there will be many restless HOA of putting down the necessary foundations for boards and managers just like the Bard’s king as a secure future must be balanced with dealing they endeavour to effect the necessary changes, with the immediate needs of the present. improvements and good governance that will keep their respective homeowners secure and asleep in their beds. effective communication, essential to impart news of the broader activities and any consequences Pecanwood’s initiatives to relaunch its estate and in building the needs of the future. It is also key golf components provide a very interesting case in imparting ongoing news about the initiatives study. In many areas they mirror the hurdles and and projects, and to ensure that the sense of challenges faced by every modern golf estate community is strengthened within the estate and and, while we cannot cover all of the initiatives that individual rights are seen to be protected, undertaken by Pecanwood in this forum (they while allowing the individual homeowner to feel are both extensive and a work in progress), a that they are part of the inclusive process. selection and the underlying philosophy driving these changes will illustrate the point, and I am sure the general terms of reference will be familiar to many other estates. Pecanwood’s strategy also included the need to be in effective ownership of the golf course, addressed through the signing of a Heads of Agreement to a long-term lease. The effective Any management team needs to ensure that all implementation of the full lease is now only the boxes, in terms of good governance, are in dependent on the course’s owner’s compliance place and then ticked off effectively. with several pre-emptive conditions. Pecanwood’s HOA Chairperson, De Villiers Botha, The balancing act that every HOA board stresses this need. “Effective leadership is key undertakes now reveals itself again. at every stage of a business’ life, but never more so than when it is restructuring, setting itself new goals and implementing essential changes,” he says. PAGE 16 Balancing these dual elements requires very The reintegration of the golf course back into the daily life of an estate is not a challenge that has been, or will be, faced by Pecanwood alone. In this instance, securing tenure over In this iterative process, there is a dual and the management rights to the golf course challenge, in that while executing the longer- had to be supported by both the agreement term plans takes time, the normal day-to-day of the homeowners and their approval for the