Winter is squeezing that last little bit out of us before she gives over to Spring, and that means more snow, ice and storms, more winter flu and more cold, grey days. To make up for the season, the CAM industry kept warm with a fresh batch of hot topics.
Here's what everyone was talking about this week: interest rates, HAM, construction defects, foreclosures, cyber insurance, attaboys, poverty killers and email, Read on for the whole scoop - it all happened this week in Community Association Management!
As an educated member of the Community Association Management industry, you already know how crucial it is to stay informed and up-to-date on the latest news, trends and happenings within the industry. Each week, we bring together our favorite reads of the week and share them with you! Enjoy the CAM Mash Up and please share it too!
Rising Interest Rates
“In June, the Fed could do something it hasn't done since Barack Obama was a U.S. senator: raise interest rates." So what does that mean for the average Joe? “In short, life is about to get better for savers and a little harder for borrowers. Investors could also face tougher times.”
Old Tech, New Laws
CAI has been talking a lot these days about new pending legislation regarding HAM radios. You heard that right, congress is looking at some pretty old-school tech, and they are planning to force allowances for HAM radio aparatus in homes accross the country. If you are not a fan of giant, unsightly rooftop antennae in your communities, then now is the time to speak up!
Not the Defects You Were Looking For...
Speaking of pending legislation, Colorado was in the hotseat this week with their proposed (and unanimously passed in the house) bill to help the flailing housing market by reducing the number of construction defect lawsuits. (Not reducing the defects, just the lawsuits that result from them.) This legislation has a lot in the CAM industry very concerned, since already other states have expressed an interest in following Colorado's example.
Money on the Table
Considering that most community associations these days are tightening their belts when it comes to funding, it's really frustrating when money that was owed to the association goes somewhere else (like to the delinquent owner). This is what happens when a primary lender forecloses on a home and the association neglects to make a claim for lost assessments. Don't let this happen to the associations you manage!
You work hard to protect your own identity, but can you say the same for the homeowners in your communities? Some communities are investing in Cyber Insurance to do just that. "Any company that keeps personal information is responsible for protecting that data. Breaches are costly and not covered under traditional protections, such as Directors & Officers liability or crime insurance."
“All too often, the preparation teams at our properties aren’t recognized for their efforts to clean the common areas, care for the grounds and prepare apartment homes for new residents. Housekeeping and Maintenance teams are the backbone of every Property Management staff. Emphasizing and recognizing the efforts of staff through out the community creates ownership.” What do you do to recognize your hardworking team members?
New Home, New Start
“There are hundreds of programs that seek to improve the outcomes of people who live in concentrated poverty. But as Harris and thousands of other mothers like her have demonstrated over the past half century, one of the most effective strategies for lifting families out of poverty is to plunk them down in a completely new neighborhood far away from their past lives.” Could this be the answer to ending poverty?
Good ole email marketing… “We love the convenience of having special offers and relevant information delivered straight to our inboxes. We don’t have to go looking for airline deals, clothing sales, or interesting new technology (I pre-ordered my Amazon Echo because of an email). We willingly sign up for email lists when we think it will benefit us.” Should you be using email marketing for your property management business?
Do You Have Big News This Week?
If you've got big news that would be relevant to other CAM professionals, please share it with us in the comments below