CAI-NJ May 2021

MANAGEMENT TRENDS “Aging Infrastructure” By Mary Barone, CMCA, AMS

Access Property Management, Inc., AAMC, AMO

W ith so many of New Jersey’s multi-family resi- dential communities having been built in the 1980’s and 1990’s, it is not surprising that some may now be showing signs of age. When thinking about a development’s “infrastructure,” it should include all the individual components that make up a community. Roofs may have been replaced at the end of their orig- inal life cycle and are likely to be approaching the next phase of replacements. Brick facades may or may not have been maintained and could likely use a little “TLC”. Older clubhouses and other amenities, more often than not, may be dated in their furnishings and color schemes. Upgrading electrical service to homes and amenities to meet today’s various uses from high efficiency appliances and heating and cooling systems to “smart” devices and even electric car charging ports would be a welcomed improvement to virtually any community. It is important to not forget to include siding, not likely to be incorporated in most Capital Reserve Studies as the life expectancy would usually have exceeded the timeframe covered by the original study and often forgotten when updates are performed. Over time, exterior claddings fade, crack and chip, and finding replacement siding to match is often difficult or impossible. In many instances, the style or color of the siding is no longer manufactured. Drainage and landscape items age like any other item. Deterioration and maintenance of storm management systems are often not considered until there is a problem needing an urgent and costly repair. Overgrown trees and their root systems can compromise the function of drainage as well as roads, sidewalks and walking paths. Older plants may not provide the desired curb appeal and should also be considered for replacement. It is important that property managers honor their commit- ments to the communities they manage to not only maintain and replace key components of the community’s infrastruc-

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“The most important risks aging components pose to the community are from a safety standpoint and from a resale perspective...”

ture but also improve it to hopefully increase property val- ues. The most important risks aging components pose to the community are from a safety standpoint and from a resale perspective, you do not want the community to be deemed outdated by not considering the aesthetics or functionality of aging amenities, streetscape, etc. Recognizing each component of the infrastructure of the community and how it impacts property values and overall appeal to residents or potential buyers is a critical function of the board, and managers can be a lifeline when trying to address those challenging projects. Every New Jersey residential community is different. What may need to be addressed at a community along the New Jersey Coast may not necessarily be needed or wanted at a North Jersey community overlooking the New York Skyline. Managers should use their expertise and professionalism to provide customized solutions to address the many areas that affect the individual communities they manage. CONT I NU E S ON PAGE 46

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