In 2016, CACM conducted a market characterization study of California common interest developments (CIDs). The purpose was to create some benchmarks for the industry – including type and quantity of associations, budgets and reserves – and better understand board challenges and products and services needed in the future.
Becoming a board member can seem a bit daunting, and if you have stepped up to the challenge, bravo to you. As a board member, you will not only provide an important service to your entire community, but also help to maintain the value of what is likely your biggest personal investment – your home.
Study respondents overwhelmingly pointed to recruitment and development of new board members as the greatest challenge facing their communities. As these are volunteer positions, finding homeowners with the time and temperament necessary to carry out the fiduciary responsibilities that a board position entails is no easy task.
Board members have many responsibilities, but it is critical to remember that your role is to govern, not to manage, or even worse, to micromanage your association’s community manager and service providers. The market characterization study found that 84 percent of California CIDs are professionally managed. If your association employs a professional community manager, it may be helpful to
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Vision Spring/Summer 2017 | www.cacm.org
