Managing community associations can be a series of highs and lows. Like the revenue roller coaster that communities ride when they wait too long to raise dues, or the sinking feeling when the membership votes down a special assessment the community needs. Check out all the highs and lows from 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!
Revenue Roller Coaster
No board member wants to be the one that raised assessments by a huge percentage on their watch. They put it off and dues only get raised when it's already too late and the association has become underfunded in the reserve fund. It may seem like you are doing a kindness not to increase, but it's actually causing harm to the community in the long run. But don't take my word for it - Gladly did the math. And they have some startling charts to show what really happens when you ride the revenue roller coaster.
Let's say your community got into the situation described above. you're underfunded and an emergency happens. Now you need to levy a special assessment. So you do all the math, figure out what the special assessment needs to be and put it to your members for a vote. But they don't pass it! Now what? This detailed article explains the options that are available to you when your special assessment vote fails.
What Makes an Effective Manager?
When boards go looking for a professional manager for their community association, what should they be looking for? Polling homeowners isn't the best way to make an evaluation, as most homeowners have little to no idea what makes a good CAM manager. This article teaches board members what to look for and how to evaluate potential managers before you hire.
Ditching the Dress Code
This article is quite timely seeing that here at TOPS Software, we are about to roll out a brand new employee handbook, sections in which detail the dress code of the company. Granted, it is nothing groundbreaking as we have a very laid back work environment and we ARE located in Florida. Asking our employees to dress up daily definitely would not go over well here. Find out here why many companies are ditching the old school dress code for something a little more casual and modern.
“By now you’ve seen your share of Pokémon Go stories in the news. Some articles sing its praises—most notably getting kids out of the house—while others highlight the game’s perils, like turning people into zombies and causing vehicular crashes. Not sure what to make of it? Here’s a quick rundown of the game and why Pokémon Go should be a go for your community association.”
I love it when people find creative ways to protest the things they are unhappy about. Like this next story. A community in Colorado has been neglecting to take care of dangerous potholes for quite some time and now It seems one very upset resident has taken matter into his own hands. It's a cautionary tale for associations that aren't fulfilling the needs of their residents. Full story here!
My mom always tells the story of my 3rd grade teacher saying that “Brianna would first bite a hole in her tongue before shedding a tear.” I’ve always know I had tough skin. Maybe I should have gone into CAM management! “If you are easily offended, need regular “atta’s (atta boy, atta girl)”, are hypersensitive to criticism, or hold grudges; CAM management is NOT for you! Seasoned property managers have developed an ego callous. A what? An e-g-o c-a-l-l-o-u-s. Obviously, this is not an actual, physical callous; however, it serves the same purpose.”
“The funny thing about new software implementation is not how hard it is, but how few organizations actually plan for it. When you have completed the sales process, that is the beginning of your journey, not the end.” Check out this step by step to make the process a little less painful for your organization.
*Image credit: Lars Guennewig