For the second year in a row, CINC Systems has surveyed community managers, management company executives, and board members throughout the country to determine the State of the Community Association Management (CAM) Industry. The feedback and responses indicated several common concerns for the future of the CAM industry and highlighted a variety of interesting concepts, both familiar and new.
As the world has seen dozens of times throughout the 2020s, much can change in a single year. Egg prices skyrocketed and subsequently plummeted over the course of 4 – 8 months thanks to a particularly virulent strain of avian flu. The housing market exploded seemingly overnight, doubling or sometimes tripling the value of homes throughout the country. Reactive condo maintenance legislation passed with lightning speed in the wake of the Champlain Towers South condo collapse in 2021.
All of this to say, change is all around us, and the CAM industry is seeing that first-hand. After publishing the results of the 2023 State of the Industry survey, there are some universal truths that still remain, and just as many changes that management companies and community associations should stay aware of for the future.
There are a few standard concerns and trends the CAM industry will probably always face. We saw these issues in the feedback from both the 2022 and 2023 SOTI results and firmly believe these trends will continue into the foreseeable future.
Change is a very good thing, and there are several areas in the CAM industry that can and will see a massive change in the coming year. But taking steps to create the change you want to see in the industry will be just as critical to industry growth and success.
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