By Rafael Aquino

Published November 9, 2022  


The next few years will be very interesting for condominiums with limited or no reserves. While I'm sure many Boards are aware of what's to come, many need help understanding the severity or cost associated. As I mentioned last week, many Boards are still taking the wait-and-see approach, and they will soon be surprised that this was not a good decision.


Rates and costs have not let up, and we are in the midst of a recession. The culmination of all these factors will most likely converge together and create some hard times. As a community leader, you must have the foresight and stamina to understand what's coming to prepare your community and communicate the challenges.


Don't let this Budget or Annual Meeting season pass without having a town hall or communication sent to all the residents. Transparency always wins the game, but this year, you need to over-communicate what's coming and its impacts on your community. Owners must know so they can make the best decision, and if they cannot manage what's to come, they can decide to sell now before things get worse.


You will likely find many more terminations coming to our market, which is not necessarily bad. I've witnessed five terminations in my career, and each one of those associations came out winning. However, four years ago, those were different times with prime locations, but if an association can't repair its building, alternatives must step in. The last thing anyone wants is another tragedy.


If you are a board member and you are still determining if your owners can afford what's to come, you need to start conversations with your members about a possible termination. A committee could be put together to do some due diligence and understand what can and can't be done with your building. Some consultants can assist you with this process to better understand your property's actual value. In business, getting ahead of things is always better for making the most educated decision. If you don't do it this way, you will most likely be on the wrong side and not receive what you even though you may have a great location, zoning, rentability in the area, etc.


I'm a big believer that if you understand your challenges or limitations and don't focus on the negative but instead focus on finding solutions, you will have a higher probability of ending up in a much better place.

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As the Co-Founder and CEO of Affinity Management Services, Rafael P. Aquino leads his team to redefine excellence. They serve community   associations   efficiently

and effectively with dedication and passion. Rafael’s energy and positive spirit is the foundation of Affinity Management Services’ company culture, which instills enthusiasm and excitement when providing expert advice to its board members and relieving the day-to-day burdens of running a community association.


Since 2007, Rafael has developed a work culture that values responsive and high-quality services. He has led his team by following a proactive vs reactive philosophy. The same approach Rafael instills in the day to day operations of each association. Today, Affinity Management Services maintains its success and benefits as a result of the foundation Rafael has built and continues to foster by providing educational seminars, continuing education classes for association managers and board members alike.

Rafael and his team help condominium and homeowners’ associations save money and improve their communities. His calm, personable, and service-oriented nature helps him to establish strong relationships with ease. Rafael is known as a sincere and honest leader who looks out for the best interests of his clients and communities, and he strongly advocates for their needs. His role requires coordination and communication, as such he takes logical and intelligent steps to approach challenges head-on.

As a graduate of Florida International University’s electrical engineering program and a licensed community association manager, Rafael’s education and skills equip him with unique insights to tackle complex problems through critical thinking. He understands how each component within a system works together in order to effectively arrive at solutions, techniques, and conclusions. Therefore, as he manages the multiple challenges of running a community association management company, he understands how each property is its own unique system and tailors’ specific services to assure that all their needs are met.

For more information about Rafael P. Aquino and Affinity Management Services please visit or call 1-800-977-6279

Doral Office: 8200 NW 41st ST

Suite 200

Doral, FL 33166

Broward Office: 150 S Pine Island RD Suite 300

Plantation, FL 33324

O: 800-977-6279 ● F: 305-325-4053

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