Today, more than 75 million people live in 350,000 community associations accounting for more than $6 trillion in home values. Add tens of thousands of community managers, management companies, developers, insurance agents, and bankers to the mix and it is easy to understand why virtually everyone has a vested interest in the success of these communities.
Critical Issues Think Tank
In 2014, the Foundation launched a Think Tank to identify rising trends throughout our industry that warrant a deep dive in research. Because of this intimate group, industry veterans from different areas of expertise are collaborating on research projects important to our industry. The results of their research are valuable guides for the more than 43,000 CAI members as they navigate the daily perils of community association life.
In May, the group unveiled Breaking Point, which exposed unexpected financial strains that are not identified through traditional reserve studies, but also require long term savings to meet the financial obligations of the community. Through our research, we also gathered solutions communities have taken when thrust into these emergency situations. Our hope is that this data will give communities a road map to examine their own property and identify areas of concern before they reach a critical level.
In 2018, the group unveiled Wired, an examination of cyber security threats and liabilities facing community associations. Since then, the report remains in constant demand and is changing the way technology and insurance providers, attorneys and managers council their clients in response to changing legislation.
Want to know what’s next? Please contact Melinda Kelejian at firstname.lastname@example.org for further information.