Tag: Surfside

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 reserve study company Association Reserves Inc. has launched a new score intended to distill the overall health 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…

The City of Chicago has established a $15 million financial assistance program to help owner-occupants and associations in one particular neighborhood pay for overdue repairs and maintenance. The South Shore Condo/Co-op Preservation Fund Pilot is intended to help condo owners at risk of losing their homes to deconversion because of their inability to pay for…

Florida condo and co-op associations are facing a new law aimed at ensuring the structural integrity of high-rise buildings in the wake of the Champlain Towers South collapse in Surfside. The law imposes several new requirements that are raising concerns. “It was a hurried, not well-thought-out bill that’s going to have really significant consequences,” says…

Florida condo and co-op associations are facing a new law aimed at ensuring the structural integrity of high-rise buildings in the wake of the Champlain Towers South collapse in Surfside. The law imposes several new requirements that are raising concerns. “It was a hurried, not well-thought-out bill that’s going to have really significant consequences,” says…

U.S. Representatives Charlie Crist (D-Fla.) and Debbie Wasserman Schultz (D-Fla.) recently introduced the Securing Access to Finance Exterior Repairs (SAFER) in Condos Act of 2022 (H.R. 7532). The legislation would allow condo owners to finance special assessments with loans backed by the Federal Housing Administration (FHA). But, if enacted, the law might not provide the…

U.S. Representatives Charlie Crist (D-Fla.) and Debbie Wasserman Schultz (D-Fla.) recently introduced the Securing Access to Finance Exterior Repairs (SAFER) in Condos Act of 2022 (H.R. 7532). The legislation would allow condo owners to finance special assessments with loans backed by the Federal Housing Administration (FHA). But, if enacted, the law might not provide the…

Assembling and maintaining a strong team has always been an integral part of running a successful and profitable community association management company. But, with a tight labor market, that can pose a seemingly insurmountable challenge.

“There’s a big shortage of managers right now,” says Ken Bertolucci, president of NS Management in Skokie, Ill. “Part of it is that the business is booming; another is the lack of young people entering community association management.”

Fortunately, there are steps you can take — regardless of the state of the job market — to cost-effectively recruit and retain the employees you need to keep your clients happen and expand your book of business.

In this special report, we explain how you can retool your approach to hiring and take advantage of a generous tax break to offset some of the high costs of recruiting. We’ll also discuss some of the most important lessons for new managers and how management firms can help prevent burnout among their employees. And, finally, we’ll explore the potential risks of relying too much on independent contractors.

We hope this report helps spark some new ideas for recruiting and retaining the best talent so your company can succeed in this challenging post-COVID environment.

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A grand jury recently released a report on the Surfside condo collapse. What do the report's recommendations mean for managers? The report doesn’t specifically refer to managers, but they would certainly feel the effects of any enacted recommendations. “I’d expect that if some of these recommendations are adopted, the burden will end up falling on…

Board member burnout isn’t new, but recent events also have members concerned about their potential liability, only compounding the effect on board retention. “It’s just been a really tough time for boards, and it already wasn’t a glorified position,” says Jennifer Biletnikoff, a shareholder in the Naples, Fla., office of Becker & Poliakoff. “I have…