At a recent interfraternity gathering, a 93 year old alumnus of another fraternity with 63 years experience as treasurer of a local house corporation was quoted on his ten keys to having a successful house corporation. They were:

1. Maintain a good relationship with the chapter.
2. Have some financial expertise on the Board.
3. Have some continuity on the Board.
4. Live by a reasonable budget.
5. Once mortgage is paid, continue to raise rent as you would normally.
6. Each class should pay into a building fund (one-time assessment per member).
7. Do not allow the chapter to get too far into debt to the House Corporation.
8. Never allow building fund money to go into chapter operations.
9. Plan on improving the house every year. Don't let maintenance accumulate.
10. Build financial reserves.