April 2023

MANAGEMENT TRENDS

Succession in the Community Association Property Management Industry Vincent Rapolla, AMS, PCAM, Corner Property Management, LLC, AAMC

W e hear in the community association manage ment industry that no one attended school to be a community association manager. So, the question is, how did we get here and how do we recruit good new talent? The community association management industry over the past twenty years has changed drastically. With the growing demand for good, qualified employees and the added competition in the labor market it is more important than ever to put together a process that will not only nurture new employees but also keep the good asso ciates we have. It was once said by one of the founders of the industry that in this trade, as a Community Association Manager, you will not get rich, however, you’ll always have a job. With over 70% of new construction in New Jersey being multi-dwelling and a large portion of this number being community associations, the industry is full of opportunity. The tremendous growth in the industry is leading to a massive need for community association managers. More importantly, the need for experienced community associa tion managers. How do management companies fill this need? Without the proper training, knowledge and overall experience in the field a new manager is likely to get over whelmed and burnt out, not lasting more than six months to a year before leaving the industry. How do management companies properly train and retain good candidates in a nurturing manner to show a great prospective manager all the benefits that come with the industry? There appears to be a large gap between community association managers who are new to the industry and those who are the long termers in the industry.

fizkes/iStock/Getty Images Plus

“...it is more important than ever to put together a process that will not only nurture new employees but also keep the good associates we have.”

Where will the industry need to go as a whole to ade quately staff our portfolios appropriately to ensure we can give our associates a manageable workload and quality of life while ensuring quality services to our clients. Below are a few areas that we can focus on to ensure that management companies are nurturing successful long-term managers in the industry: Recruitment and Training — It is important to be sure that young professionals or those that are just getting start ed in the industry are set up for success. Too often, new hires are thrown into the mix; once boards realize there is a lack of knowledge in the industry no matter what the determination level of the candidate is, they will be on the chopping block without a chance. New hires must

CONT I NU E S ON PAGE 36

36

A P R I L 2 0 2 3