Wednesday, August 08, 2007

Community Association Demographics

In June of 2006, I attended a continuing education class in Raleigh, NC on Advanced Risk Management through the Community Association Institute. The presenter for this class was Clifford J. Treese. One of the hand outs he provided for this Class contained some interesting information about the history of Community Associations. I thought the following information was very interesting and thought I would share it with you.

Community Association Demographics: In 1970, there were approximately 700,000 homes in 10,000 community associations. As part of a mid-1970 report, HUD projected that 50% of American homes would be living in community associations by the late 1980’s. Although premature, the HUD prediction was not that wrong. Today, it is estimated that 85-90% of all new for-sale housing is located in one of the three basic types of community associations. Somewhere between 40-60% of the CAs are contract managed by specialized community association management (CAM) companies while the other 40-60% are self-managed either solely by volunteers or with association-hired staff. Regardless of management structure, all associations are governed by a volunteer board of directors elected by the membership.

Quick Facts about Community Associations:

Community Association living is here to stay. It is part of our culture. By providing professional service to our clients, we are contributing to a quality way of life for homeowners living in community associations. We are very proud of our team of professionals and the service we offer. Thank you for your continued business and support.

Phyllis Carpenter, CMCA, AMS, PCAM