New FiPHO Score Rates Association Health and Efficiency
The reserve study company Association Reserves Inc. has launched a new score intended to distill the overall health and efficiency of a community association into a single number. The so-called FiPHO — which stands for financial, physical, and operational — health score ranges from 1 to 100.
“This new system is a direct result of the Surfside condo collapse,” says Paul Grucza, principal with PBG and Associates, consultants for the association management industry. Grucza participated in beta testing for the new score and the in-depth report that accompanies it.
“FiPHO is making boards skittish, though,” he says. “They don’t want to see the flaws, but it can be a useful tool.” And it may hold some real benefits for managers, too.
In our new article, we’ll discuss what you and your association clients need to know about the new FiPHO health score, including:
- The pros and cons of this new rating system
- How your association clients can obtain their FiPHO score — and generate a new income stream in the process
- How the new FiPHO score could be beneficial to association managers.
Read the full article here: Will a New Rating System Help — or Hurt — Your Clients?