What Are Community Association Best Practices?

What Are Best Practices?

A best practice is a technique or method that has proven reliably to lead to a desired result or outcome. Establish business best practices that are repeatable and document the processes that deliver measurable performance management improvements. 

Benchmarking is a systematic process used to identify and implement best practices. These practices are industry-based and may be adapted to fit a unique organization or business. The term, "best practice", is most common in health care, government administration, higher education, business management, and technology. However, it's just as applicable when it comes to community associations. 

Best Practices for Community Associations

Identifying and promoting best practices in the community association industry is a crucial goal of the Foundation for Community Association Research and its parent organization, Community Associations Institute (CAI).

The Foundation publishes Best Practices Reports related to operating and managing community associations and common interest ownership communities. The Foundation selected topic areas for Best Practices Reports, working with CAI leaders, staff, and members.

Benefits of Using Best Practies

Benefits of using best practices include improved quality and performance, better planning and evaluation methods, innovative approaches to operations and management, and increased organizational accountability. The Best Practices Reports provide:

1. Function-specific practices that have been documented and verified.

2. Case studies of community associations that use these best procedures

3. Rising trends and new industry practices in the topic area

Best Practices in Association Reserves

For additional information on the analysis, management, funding, and forecasting of association reserves, we recommend the CAI Guide for Association Practitioners (GAP) publication, Reserve Funds, and the professional management development program courses, M-206: Financial and M-201: Facilities Management.

Community Association Best Practices

Since the early 1970s, community associations—including condominium associations, cooperatives, homeowner, and property owner associations—have experienced exponential growth. Expect this growth to continue for the foreseeable future in the United States and other countries.

Approximately 25 percent of U.S. housing inventory exists in planned or managed residential communities, generally referred to as common interest ownership communities with some form of community association. CAI estimates 350,000 established community associations in the U.S. represent 30 million housing units and 75 million homeowners. Community associations are also a growing trend in Europe, Australia, and the Middle East.

Contact Us

Condominium Associates is your local community association that works tirelessly to provide the utmost quality services to its residents 365 days a year. Call us today to learn more about general best practices for your association.