This week in Community Association Management the industry buckled down to the business of running associations. We learned about obstacles facing the industry, asked what unspoken messages your website could be giving out, and discovered ways to avoid litigation. We also learned how to become better organized, budgeting tips for condos and co-ops and how to get all of your community stakeholders on the same page.
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!
Four Obstacles For CAM Professionals
“New technologies, the ability to compete in an entirely web-based fashion and, perhaps most importantly, the rapidly changing preferences and demands of owners, are all forcing community association management professionals to adjust their own strategies. To give you a clearer perspective on some of the challenges you will face as a CAM professional, let's take a look at four obstacles seen on the path today, and the challenges and opportunities they present.”
Your Community Website-It Matters!
How much time, love and attention do you pay your community website? “Like any business entity, your website is your face to the world. When people are researching places to live, the first thing they do is go online for information. Your website is where those people will get the feel for what your community is all about, and what it might be like to live there.”
Getting sued is no joke. It's even worse when the lawsuit catches you off-guard due to it's unlikely subject. When that subject is your association's parking lot., there are 6 areas that can degenerate over time that you need to keep track of and continually check to insure that you don't get caught off guard.
Organization is Your Friend
How organized are your community documents? “Homeowners’ Associations, if they hope to run an efficient organization, have a large number of documents they must keep in proper order. They regularly work with these documents so keeping them in order ensures accessibility. However, actually to keep your documents in order is not always quite as easy as one might hope. Fortunately, there are some things that you can do to change that. Let’s look at some of the best ways to get your documents in order and how to keep them there.”
Budgeting for Condos & Co-ops
Condos and Co-ops need special care and attention when it comes to budgeting. "People with even a small amount of financial experience know the difference between the capital budget and the operating budget. But it’s much more complicated than that. And because it is so complicated, managing a community's books often becomes a joint effort, involving the board, manager, accountant and others." Learn more about budgeting terminology for condos and co-ops.
Mission, Vision and Core Values
“By Boards working together (not always harmoniously, but always congenially) and ultimately agreeing on what will be their shared reason for existence, (Mission) their shared concept for the future (Vision), and their shared philosophy that will represent their culture (Core Values), a Board cannot help but become the team they are meant to be. The sense of accomplishment, the sense of belonging, the sense of functioning as a team indicated not only achievement, but that the process itself is a communal, positive experience.”
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
*Image credit: Pixabay user harutmovsisyan