Happy Superbowl Sunday everyone! While we were all waiting to watch the guys on the gridiron, the CAM industry was exploring other games, like manager musical chairs, and the 'can we tow that car?' game. Plus, long-term planning and increasing property values! Check it out, 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!
Manager Musical Chairs
"Remember the game we used to play as children? There was always one less chair for the amount of players, and the objective was to make sure you were seated once the music stopped? This left one player without a chair, and they were out of the game! Community manager musical chairs is nothing like that game, and it is not fun."
"If your board has hired a towing company to patrol your parking lot and other roadways to tow away people who are breaking your parking rules, be sure to have clear rules in place so that if you tow owners' cars, you won't create endless disputes and ill will... Your state may have laws dictating how you treat towing in your community association... Be sure to investigate before you implement any policy."
They Pay for Themselves!
"Adding amenities to HOAs, Coops, and Condos can actually pay for themselves while increasing property values. The question is: what amenities work best for your association? Also, how should they be structured in order to pay for themselves? This takes a lot of planning and may require the need to bring in experienced consultants. Here are some suggestions on where to start your Association’s Amenity Plan."
Increasing Property Values
"The decisions and priorities of community association boards govern the daily lives of their residents. But those actions also have a huge impact on selling prices. We asked several city and suburban real estate agents who work in the community association trenches for advice on how boards can improve — or at least not deflate — property values. Here are seven ways to do just that."
"Long-term planning is one of the most valuable tools for managing community associations. A good plan will establish goals that need to be set for the association and methods of monitoring those goals through the timeframe of the project. For on-site managed communities, a long range plan is of particular importance. While board change as their terms is usually only two or three years, and the association will continue long after the board members retire from the board or leave the community. Having a plan in place promotes consistency in the management of the community and allows the on-site staff to have clear performance objectives." Let's take a deeper look.