Tools we employ:
- Review of governing documents (your community's rules).
- Your mission statement, a great way to stay true to community values.
- Analysis of your Association’s data (revenues, expense, occupancy, member comments, etc.) over a period of time.
- Polling of similar associations in the area.
- Research with chambers of commerce and other entities tracking demographic trends.
- Communication with Association membership.
(45 Member Condominium Association)
A resort condominium association with a portion of the members offering their homes for short term rental started receiving consistent negative rental guest comments. The association had historically mandated that all short term rentals be handled by outside property management firms, retaining the services of its own on-site management solely for homeowners. Rental guests were complaining about the inconsistent experience resulting from having 8 different management companies representing the property. Occupancy analysis revealed a gradual, steady drop in rental occupancy over the prior 5 year period, and polling of area data indicated other area properties were not seeing a drop in occupancy. The board used this information to define and strengthen its brand by passing a board resolution establishing measures that enhanced the guest experience, as well as allowing its on-site management to offer rental services. The process involved changes to operations, technology and financial structure. Consistent communication with the membership minimized the anxiety associated with the directional change. After 6 years, the Association enjoyed an excellent brand with both homeowners and rental guests and had record high rental occupancy and rates. The in-house rental program represented 90% of the rental units and delivered record high returns to the homeowners.
Barbara Lucks brought this situation to the attention of the board along with another manager when she was serving as Assistant General Manager and Guest Services Manager. She was promoted to General Manager at the beginning of this process and developed/implemented it for the first 6 years.