CAI-NJ May 2022 Community Trends

association industry, including CAI, strives to make our community associ ations a safer and more comfortable place to live. Volunteer boards, man agers, and engineers work tirelessly to improve their buildings and community with the noblest of fiduciary principles in hand. However, it is questionable whether the new requirements align with industry best practices and cus toms. CAI national has released the following statement: CAI supports the intent of the new requirements from Fannie Mae and Freddie Mac and understands the need to assess and mitigate risks associated with their respective condominium unit and cooperative share mortgage portfolios but is rec ommending a delay in implemen tation. This will allow associations, CONT I NU E S ON PAGE 53

Your Association is in Good Hands with Homestead Management Services.

Responsible Property Management that responds to your needs

• Personal, responsive customer care with 24/7 emergency call service • Modern, fully intergrated databased network for quick response to problems and solutions

• Live, expert staff of experienced management personel

A complete financial package: •Complete Monthly Financial Statement •Accounts Payable •Accounts Receivable •Deliquency Report •Annual Reports

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