Dear Board Members,
Associa Community Management Corp. celebrated our 40th anniversary this year. We commemorated this important milestone with a party for our staff – it’s hard to believe we have grown to nearly 70 team members across our Fairfield office and managed communities! We reminisced about what the world was like in 1979: the Iran hostage crisis, an inflation rate of 11.2 percent, the age of disco (the No. 1 song was “Stayin’ Alive” by the BeeGees) and the Dow Jones Industrial Average at 828 (it now surpasses 28,000).
Although much has changed over the past 40 years, our commitment to providing the best possible service to our clients and to hiring the industry’s most talented individuals has not. We continue to appreciate and value those who have placed your trust and confidence in Associa Community Management Corp. and our team.
As you may know, Associa Community Management Corp. is heavily involved in the Community Associations Institute (CAI). In fact, being a member of the CAI-NJ Legislative Action Committee (LAC) has been a personal passion of mine for the last 30 years. 2019 was an especially active and productive year on the legislative front. This summer, an amendment to New Jersey law was passed that increases the claim that an association has for unpaid maintenance fees and professional fees when a unit is foreclosed upon by the owner’s bank or lender. Historically, that claim was limited to six months of unpaid monthly assessments. The new law allows recovery of 6 months of unpaid assessments for each year that a foreclosure is pending, for up to 5 years, plus professional fees. This is a major step forward to ensure that dues-paying members are not subsidizing owner delinquents.
On the defensive front, the LAC objected strenuously to proposed regulations of the Department of Community Affairs (the DCA) arising out of the so called Radburn statutory amendments of 2+ years ago. While CAI supported the Radburn statutory changes, we very much objected to the regulatory proposals, which sought to micromanage association affairs in areas such as elections, board meetings and guaranteed board positions for affordable unit owners (in applicable communities). The LAC also continues to promote pending legislation to seek a common legislative scheme for all community associations, and for a clarification of the current rule concerning developer financial obligations in developing communities.
Associa Community Management Corp. made it a point to give back to the community and those in need throughout the year. In July, members of our team volunteered at Ton’s Kitchen, a facility in Montclair feeding the less fortunate, to help establish a new thrift shop. In October, we hosted a fundraiser for Associa Cares, Associa’s national nonprofit 501(c)(3) organization created to assist families and communities in crisis, both within and outside of Associa managed communities. Thanks to the generosity of our valued vendors and professionals working with and for our managed communities, we raised over $10,000 for this worthwhile cause.
Lastly, two leaders on our management team, Jackie Thermidor, Vice President, and Nicole Martone, Senior Manager and Director, earned their Professional Community Association Manager (PCAM) designations. This is the highest designation in our industry and is a true testament to their experience and hard work.
Our team looks forward to another successful year in 2020 and wishes you and your family a happy and healthy holiday season.
President, Associa Community Management Corp.