CAI-NJ Nov. 2018 (w)

CAI-NJ Board of Directors Adopts BEST PRACTICES FOR MANAGEMENT TRANSITION Created by the 2017 & 2018 Managers Committees By Christopher Nicosia, MM, CMCA, AMS, PCAM, Prime Management, Inc., AAMC

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A t the April 2018 Board of Directors meeting, the CAI-NJ Board of Directors adopted the Best Practices for Management Transition that were created by the 2017 & 2018 CAI-NJ Managers Committees and recom- mended for adoption by the 2018 Managers Committee. The Management Transition Best Practices were created because the Managers Committee identified the lack of a uniform approach to management transition when com- munities decide to change management. The Committee recognized the importance of establishing an approach for transition that minimized disruption to affected com- munities while facilitating a professional and efficient mechanism to transfer necessary information and files. The “Best Practices” resulted from months of evaluating various processes followed by several industry leaders in the man- agement field. The result is a simple, yet detailed set of best practices that provides an efficient and straightforward approach to the management transition process. The Best Practices in Management Transition document is a guide that CAI-NJ hopes will be followed by all our

member companies and communities when a management transition is necessary. It facilitates a professional process and keeps the stability of the community as the primary focus during the change. We are excited to see important industry guidelines com- ing from our active, knowledge and engaged committees and support the many industry professionals who continual- ly contribute to this process. For the full text and sample letter that were created as part of the Management Transition Best Practices, please go to: www.cainj.org/membership/managers/. CAI-NJ Management Transition Best Practices Management transition is inevitable from time to time as Associations change and evolve. As manager members of CAI-NJ, it is our responsibility to work collaboratively when transitioning clients to minimize disruptions. CAI-NJ believes that cooperative efforts amongst management members helps maintain professional relationships and fosters a positive image to community associations during times of CONT I NU E S ON PAGE 16

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