CAI-NJ May 2022 Community Trends

LOOKING AHEAD ANGELA KAVANAUGH | CAI-NJ CHAPTER EXECUTIVE DIRECTOR

I am thrilled to share that the New Jersey chapter has been awarded the Best Net Growth (7.2%) award for an extra-large chapter in the 2021 calendar year! Thank you to all our loyal members for your continued support, without which this wouldn’t have been possible to obtain. For the first time ever, our membership is over 2,600, an increase of more than 200 from last year! As a way of introducing our new members and helping them on their journey to building valuable relationships and taking advantage of all the benefits offered by the chapter, we have launched the updated Ambassador page on our website where members may access their New Member Packets, specifically geared towards their member type. Brand new to the page is the Ambassador Portal which will link new members to one of our Ambassadors who will then make a personal introduction for them to the members that they need to meet and network with. For further information visit, https://cainj.org/cai-nj-ambassadors/. Two years in the planning, the inaugural, in-person Conquer + Connect Retreat was hosted last month. The sold-out event was attended by over 150 members. The full day of professional development programming celebrated women in our industry, defining the meaning of leadership. Thank you to the Women’s Leadership Committee, the program presenters, and sponsors, espe cially Taylor Management Company, AAMC, AMO for allowing us to finally bring this event to life! Photos can be found on pages 21-23 and available on our website. https://cainj.org/envira/2022-conquer-connect-retreat/ . This month’s issue of Community Trends ® discusses How to Keep Your HOA in Check • The New Fannie Mae and Freddie Mac Lender Questionnaire: To Answer, or Not to Answer, that is the Question!, by David L. Dockery, Esq. of Becker & Poliakoff, LLP discusses the dilemma of whether to answer the required questions contained within the new

loan applications and how this will affect being granted future loans. • NEWCOMMUNITY ALERT! Tolling the Statute of Limitations for Community Association Construction Defect Claims, by Martin C. Cabalar, Esq. and Michael A. Calabrese, Esq. of Becker & Poliakoff, LLP discusses the change of the Statute of Limitations (SOL) for the filing of a lawsuit against a developer, its design professional, and sub contractors for construction defects which will not begin until the owners comprise a majority of the board. • Balconies, by Scott Baryiewski of South Shore Construction LLC discusses what to look for when inspecting your com munity’s balconies and the preventative maintenance that should be done to ensure they are safe for your residents. • Capital Reserves: Kicking the Can Down the Road, Don’t Do It!, by Andrew Amorosi, PE, RS of The Falcon Group – Engineering, Architecture & Reserve Specialists, discusses the purpose of a Capital Reserve Analysis and how properly funding the community’s reserves may avoid possible future special assessments. • The Management Trends Article, Mid-Year Check Up — Keeping Your HOA in Check by Vincent Rapolla of Corner Property Management, LLC, AAMC, gives a mid-year checklist on items for review to ensure your community is in good health both financially and operationally. What can you look forward to at the chapter this month? • The PAC the Rooftop – Networking Event on Wednesday, May 18th at the Asbury Festhalle & Biergarten in Asbury CONT I NU E S ON PAGE 58 “...the inaugural, in-person Conquer + Connect Retreat was hosted last month. The sold-out event was attended by over 150 members.”

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