CAI-NJ April 2020(w)

COMMUNICATION... from page 14.

How is this affected by the generational gap? Well, often, managers presume that the reader or audience can fully comprehend the information and only needs a short amount of notice. Unfortunately, limited lead time doesn’t take into account the recent college graduate who has just purchased his first condo and has never heard of an oil remediation project. Nor the elderly couple who is on a fixed income and utterly unprepared for a special assess- ment, or the Wall Street professional who has a meeting at 10 a.m. and is just finding out about a scheduled water outage just as he/she needs to have a shower to catch the train. Timing is everything when looking to communicate effectively, and the successful property manager will take into account every generation being served when sending out communications. 3. It Must Be Relevant Property managers have an arsenal of forms of communi- cation: email, social media, websites, letters, flyers, mailer cards, and even office visits and meetings. The list varies as much as the demographics of the audience. The savvy

2. Strive to Be Timely Emergencies are all but inevitable in the industry of property management. Every manager has probably been awakened from sleep for some unfortunate occurrence at a property, be it a fire, water outage, an accident, or the like. In those rare instances which require immediate notification to homeowners, the property manager has minimal options. In most cases, however, the effective communicator will allow as much time as possible between notifying those affected and the occurrence that will hinder where they live. Often conflicts arise

due to limited or poor timing when sending out informa- tion. When this happens, the number one complaint is that the resident or homeowner was not given enough time to prepare.

“Timing is everything when looking to communicate effectively...”

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Placementof funds through the ICSorCDARSservice issubject to the terms,conditions,anddisclosures in theserviceagreements, including theDeposit PlacementAgreement (“DPA”).Limitsapplyandcustomereligibilitycriteriamayapply. In the ICSsavingsoption,programwithdrawalsare limited tosixper month.Although fundsareplacedatdestinationbanks inamounts thatdonotexceed theFDICstandardmaximumdeposit insuranceamount (“SMDIA”), adepositor’sbalancesat the relationship institution thatplaces the fundsmayexceed theSMDIA (e.g.,before ICSorCDARSsettlement foradepositor after ICSorCDARSsettlement forawithdrawal)orbe ineligible forFDIC insurance (if the relationship institution isnotabank).Asstated in theDPA, the depositor is responsible formakinganynecessaryarrangements toprotectsuchbalancesconsistentwithapplicable law. If thedepositor issubject to restrictionsonplacementof its funds, thedepositor is responsible fordeterminingwhether itsuseof ICSorCDARSsatisfies those restrictions. ICS, Insured CashSweepandCDARSare registeredservicemarksofPromontory InterfinancialNetwork,LLC. Depositand loanproductsareoffered throughCITBank,N.A., theFDIC-insurednationalbanksubsidiaryofCITGroup Inc.©2020CITGroup Inc.All rights reserved.CITand theCIT logoare registered trademarksofCITGroup Inc.MM#7316

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