CAI-NJ December 2021

expectations that often result in stresses not anticipated. Emotionally, there is definite happiness, however, there are the stresses that accompany any move into a new place. Those stresses include everything from “buyers’ remorse” to anxiety about “fitting in” and then the added emotional anx- iety of higher costs has recently impacted every community. Modifying expectations is difficult, especially when the community initially promises to meet all the needs of aging residents. Certainly, the recent reality of COVID -19 has created more issues for all communities, but more so in adult communities. New and not expected physical changes include sanitation stations, mask requirements, limiting physical contacts, more people home during the day, more parking spaces filled for longer periods of time and limited opportunities for socializing. Finally, the physical maintenance issues are also under- estimated. For example, trip hazards in cement walkways due to root growth and freezing then thawing of moisture in the ground occur more often than expected. Additionally, it takes a lot of physical maintenance to ensure that buildings, common spaces, grounds, and amenities continue to look their best. As costs rise, many associations discover the amounts of money required for painting and other routine upkeep are more than budgeted. In summary, it is very important that Boards and Managers recognize that the perks and advantages of adult commu- nities are only enabled to exist by sound budgeting and good communication. Board members in senior communities need to adopt strong plans for addressing maintenance programs and should utilize the many ways to communicate with residents. It is becoming essential to manage communications through email blasts, texting, robo-calls, entrance signage and hand delivered notices. It is important to communicate conditions clearly and consistently to residents in order for them to manage their expectations of the board and management. Managing expectations is the key element of all good management, however, Boards and Managers must recog- nize that residents look to them to keep the promises made by marketing and sales efforts. Being able to keep the promises of a “lifestyle,” while not stressing the residents, is dependent on sound budgeting, a proactive maintenance program and a recognition of the initial lure of the facilities. The key word most used in market- ing of adult communities is “carefree.” This “carefree” lifestyle

MANAGEMENT TRENDS... from page 55.

are usually high. Often this expense is a last hurrah to reward themselves for saving and working for many years. As the costs increase, this often causes financial impacts not pre- viously anticipated by the new owners. A desire to reduce increases will influence members to be extremely concerned about the costs of living in an association. Budgets, reserves and costs of services become a major focus.. Those residents who chose a community because of wanting to reduce costs will often become frustrated and reluctant to trust manage- ment’s recommendations for assessment increases. Financial matters truly matter and often the annual budget meeting can be contentious. Therefore, the focus on management’s ability to stabilize or reduce costs becomes a priority. Managers need to have very robust manner for commu- nicating/reporting expenses and savings. While monthly postings of financial reports are often a significant hallmark of good management, an explanation of the financial sta- tus of the association should also be provided, so that all members of the association community are not blindsided by unanticipated “special assessments” or budget increas- es. One jarring aspect of living in a planned unit communi- ty is the financial complaint that paying for services that are not used by all residents is “not fair.” An example of costs that are often questioned include pool operating costs or tennis court resurfacing. Of course, the snow clearing costs are also contentious, especially ice storms and large snow accumulations. The reduced number of snow contractors and the increased costs of labor and insurance has recently been responsible for higher than anticipated costs. Therefore, inflation is a serious pitfall facing many resi- dents in age restricted communities, which ultimately results in stresses for both residents and managers. Emotionally, many folks who move into adult communities feel that they have “earned” a fun and relatively luxurious lifestyle for the years they spent working and raising a fam- ily. Many folks feel they want to recapture the excitement of new furniture, new homes and new beginnings. They enjoy being able to afford many things they did not indulge in while focusing on making sure the kids were given all the opportunities. Therefore, new owners in these adult communities move in with very high expectations for happi- ness, convenience and being treated well. It’s those high

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