In 2022, Community Association Institute (CAI) estimated that roughly 363,000 associations are currently in operation throughout the United States, serving over 74.2 million owners. In the state of Virginia, we have nearly 9,000 community associations serving over 2 million residents. With just over 8.5 million residents in Virginia, association owners account for nearly a quarter of the state’s population. That’s a lot of owners! And with the number of associations and association owners only projected to rise in the coming years, developing and implementing educational programs to help educate new owners on association living and keeping current owners up to date and informed is imperative to both community’s success and success as their management team.
As we look toward the future of our industry, we’re excited to announce myStreet Community Management’s education initiative:
Helping build happier communities, one homeowner at a time.
The goal of this initiative is to form a more cohesive partnership between management companies and the communities they manage through the education of owners and board members on association living coupled with our company’s ambition to surpass industry standards and offer an unrivaled level of service. We hope to accomplish this goal through the several strategic measures outlined below.
1. Homeowner Education
The first part of our education initiative is to better educate homeowners on the basics of association living. It is our belief that misunderstandings and misconceptions regarding the structure of associations are to blame for the unfortunate stigma surrounding the industry.
To help clear the air around association living and community management, we plan to provide clear and concise information to our owners on a routine basis, breaking down association living into its most basic elements. A better understanding of association basics can lead to higher owner participation in meetings and committees within the community. And a better understanding of why management companies operate the way that they do will lead to a better working relationship between managers and owners.
2. Board Education
Board members are the ones running the shows when it comes to the decision making process for associations, which means the more educated board members are on their duties and responsibilities the better equipped they will be to manage their associations.
As our education initiative evolves, we have plans to offer board member training through round table training, video trainings, as well as Q&A sessions. We will also encourage board members to become involved in our industry by joining Community Association Institute or CAI.
CAI is an international membership organization of over 40,000 members spread out over 63 chapters worldwide including Canada, the Middle East and South Africa.
CAI provides information, education and resources to the homeowner volunteers who govern communities and the professionals who support them. CAI members include association board members and other homeowner leaders, community managers, association management firms and other professionals who provide products and services to associations.
3. Manager Education
Through continued education, industry participation and community involvement our managers and staff pledge to exceed the expectations of our residents, offering an unsurpassed level of service. Our goal is to form a stronger boards and owners alike, with the common goal of building happier communities.
We’re excited to embark on this educational journey with association owners in all communities, not just the ones we currently manage. Our goal is to help ensure that everyone understands their role in the community association structure thereby promoting a healthy working partnership with the common goal of happier communities.