CAI-NJ July 2019 Newest

MANAGEMENT TRENDS By Denise Becker, CMCA, AMS, PCAM, Corner Property Management

“And if you should survive to a hundred and five, look at all you’ll derive out of bein’ alive! And here is the best part, you have a head start, if you are among the very young at heart.” — Written by Carolyn Leigh/Johnny Richards; Performed by Frank Sinatra

W hen I was asked to write an article for this year’s Senior Summit edition of Community Trends ® , it was hard not to be immediately transported back to my days starting out as a young community manager. One of my first assignments in man- agement was with an age-restricted community (we called them “senior” communities back then). I had a few different responsibilities, but my primary focus was to serve as the assistant to the community manager. And to the best of my ability, I listened and learned and soaked up every drop of information I could from her about management. I recall one particular annual meeting and election, which was held during the day. As the community manag- er reported the past year’s finances and her/the board’s accomplishments: the clubhouse renovations were com- plete; the community bus would now be making a stop at the new mall; and the theater group will be perform- ing “Hello Dolly!” As I looked out at the standing room only ballroom, I could not help but notice the interest in this room. Everyone was hanging on her every word. I remember the question and answer period went on for what seemed an eternity. These residents were curious and wanted to know more about their community, which was much different than living in the single-family subdivisions where they raised their families. Fast forward to today and so much has changed for the better in these “senior” communities; positive changes that make the transition into an age-restricted community a wonderful new chapter in many people’s lives. What is the biggest change? Better and more education, hands down. With events like the upcoming Senior Summit, homeowners and homeowner leaders have the opportunity

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to learn about the topics that affect daily living in their unique communities. So much is going on in the common interest community world, and the Senior Summit is a great place to learn and discuss the future of these associations without waiting for the community’s annual meeting. These days, many homeowners who transition to age-re- stricted communities are still working, whether it be at their full-time job or a part time job they have picked up after retirement. Many still have young adult children still living with them. Years ago, these homes had only one or two members and they most likely were retired living on pen- sions, social security, or savings. While that is still mostly the case today, age-restricted communities are certainly not immune to the same angst over homes that are delinquent or go into foreclosure, either because of owners who can- not pay or that may have passed away. One of the most recent legislative reforms, which will be discussed at the Senior Summit, has to do with additional lien priority and how it will impact all common interest communi- ties (not just condominiums). The legislation now allows an CONT I NU E S ON PAGE 36 “These residents were curious and wanted to know more about their community...”

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