CAI PUBLISHES NEW RESOURCE TO SUPPORT RESIDENTS LIVING IN CONDOMINIUMS AND HOMEOWNERS ASSOCIATIONS
Jan. 19 — Falls Church, VA — Community Associations Institute (CAI), along with our sponsors ClickPay and Pinnacle Financial Partners, are proud to introduce Community Association Living: An Essential Guide for Homeowner Leaders—a new publication designed for anyone who lives in, works for, or supports homeowners associations, condominiums, or housing cooperatives.
Community Association Living: An Essential Guide for Homeowner Leaders provides residents and volunteer board members a clear understanding of the business of associations and offers perspective of how associations today are organized, governed, and managed.
“The number of new community associations and residents increases significantly every year. Understanding the common principles of a condominium and homeowners association is crucial for all residents," says Thomas M. Skiba, CAE, CAI's chief executive officer. “As the leading authority in community association living, our new publication supports residents and helps them better understand their rights and responsibilities when choosing to buy or rent a home in a community association."
The new publication was produced in collaboration with CAI's Homeowner Leaders Council. The guide identifies the three characteristics common to all community associations; outlines the significance of community association bylaws, management, and governance; and offers insights to how federal, state, and local laws affect community associations.
Since the 1970s, community associations have been a popular housing choice for people around the world—especially condominium buyers seeking close proximity to city centers, public transportation, and schools. Planned communities provide owners the benefit of shared amenities such as pools, walking trails, and other recreation facilities that may otherwise be unattainable.
In the U.S., there are roughly 354,000 community associations, which are home to more than 73 million Americans, according to the National and State Statistical Review for Community Association Data, published by the Foundation for Community Association Research. An estimated 4,500 new community associations are expected to be developed in 2021, a 1.3% increase.
As described in Community Association Living, condominiums and homeowners associations are designed to manage common or shared property, protect owners' property values, provide services to residents, and develop a sense of community through social activities and amenities. All residents have an important role to play in a community's success, but board members have a particularly vital job.
“Community associations are examples of self-governance at the most local level," says Janet L. Newcomb, chair of CAI's Homeowner Leaders Council. “The best communities have highly engaged members who elect responsible and effective leaders to make important decisions for their community. This publication and CAI education are superb resources for anyone seeking understanding and best practices for common-interest developments."
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About Community Associations Institute
Since 1973, Community Associations Institute (CAI) has been the leading provider of resources and information for homeowners, volunteer board leaders, professional managers, and business professionals in the more than 350,000 homeowners associations, condominiums, and housing cooperatives in the United States and millions of communities worldwide. With more than 42,000 members, CAI works in partnership with 36 legislative action committees and 63 affiliated chapters within the U.S., Canada, South Africa, and the United Arab Emirates as well as with housing leaders in several other countries, including Australia, Spain, and the United Kingdom. A global nonprofit 501(c)(6) organization, CAI is the foremost authority in community association management, governance, education, and advocacy. Our mission is to inspire professionalism, effective leadership, and responsible citizenship—ideals reflected in community associations that are preferred places to call home. Visit us at www.caionline.org, and follow us on Twitter and Facebook @CAISocial.
About ClickPay®
Integrated into HOA Management Systems, ClickPay offers a custom-branded online and mobile payments platform, allowing homeowners to securely and conveniently pay electronically via their payment method of choice. ClickPay's real estate-specific Lockbox handles the complexities and risks of paper payment processing to let your staff focus on the homeowner experience while driving adoption through training, custom-branded marketing services, and a bilingual white-glove Homeowner Call Center to assist with payment submissions.
ClickPay, a RealPage company, is a chosen partner of many of the largest HOA banks in the industry and provides clients with a secure Auto-Debit Program to replace manual ACH and NACHA files. For homeowners who prefer to pay through their bank's own website, Bank Bill Pay is a proprietary capability that electronically sweeps bank checks into ACH, circumventing the bank printing and mailing paper checks, and joining all other payment types on a single dashboard, creating a solution that enables 100% paperless payment offices. To learn more about ClickPay, please visit www.clickpay.com.
About Pinnacle Financial Partners
Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage, and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. The firm is the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA, according to 2020 deposit data from the FDIC. Pinnacle earned a spot on the 2020 list of 100 Best Companies to Work For® in the U.S., its fourth consecutive appearance. American Banker recognized Pinnacle as one of America's Best Banks to Work For eight years in a row and No. 1 among banks with more than $10 billion in assets in 2020.
Pinnacle owns a 49 percent interest in Bankers Healthcare Group (BHG), which provides innovative, hassle-free financial solutions to healthcare practitioners and other licensed professionals. Great Place to Work and FORTUNE ranked BHG No. 1 on its 2020 list of Best Workplaces in New York state in the small/medium business category. The firm began operations in a single location in downtown Nashville, Tenn., in October 2000 and has since grown to approximately $33.8 billion in assets as of Sept. 30, 2020. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 12 primarily urban markets in Tennessee, the Carolinas, Virginia, and Atlanta.
Additional information concerning Pinnacle, which is included in the NASDAQ Financial-100 Index, can be accessed at www.pnfp.com.