And it's important to remember that community associations are NOT run by property managers. Even though both can often manage similar aspects of common interest community associations and management properties (such as community amenities like pools or playgrounds), a community association manager, a property manager is not. And vice versa.
Knowing what you're working with is only the first step in the management process, though. Predicting the future is the next, even if it seems impossible. Comsource has a few ideas of what HOA and Condo Associations can look forward to in the coming year. An uptick in millennials, for example. And they're not the only one talking about millennials in the market, which makes a lot of sense. That's how the world works! The young eventually become not-so-young and enter the 'real world,' so considering the millennial buyers market is a huge asset in 2019.
Tackling a software solution is the other big contender for 2019 CAM trends! They argue that this is the year that, "property management technology finally become a “must have” for property owners and board members alike." A lot of people are ahead of that curve and using industry-specific software. The latest trend that everyone is starting to talk about is cloud-based software. Having a web-based platform to grant you (whether you're a community association manager, a board member, or a homeowner) real-time, ANY time access to your data and accounting information is the next big step toward full autonomy in the CAM industry.
If you've got big news that would be relevant to other CAM professionals, please share it with us in the comments, or email firstname.lastname@example.org and share a link to your news with us for inclusion in the next mash-up!
About the CAM Mash-up: 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!