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DON’T WAIT TO THE LAST MINUTE…
By
Rafael Aquino
Published November 10, 2021
It is irrefutable that the cost of
living and goods have been going up the past couple of months and
there is no end in sight. To add to the current challenge, we can
expect changes from the state on the reserves requirement and the
amount saved. However, as association leaders, it's our
responsibility to communicate its impacts to our association and its
membership.
Every year it's essential to take your
time with your budgets and plan accordingly. However this year comes
with challenges because no one knows what the cost of goods,
supplies, insurance, etc., will be next year. Every association
should be having serious conversations with ALL its vendors to
understand the potential increases. Further, with the recent
increases in the minimum wage, ALL associations should be having
conversations with their security guards providers and janitorial
services providers, to name a few, to see how the minimum wage
increase can potentially impact the association.
If you don't have reserves, this may
be the year that you present a budget without the option to waive
reserves. Remember, a board does not have to give an option to
waive reserves to the membership. It's better to open pandora's box
now and start having serious conversations with your membership.
Further, you can express the changes coming to the law, and if steps
aren't taken today, it will cost much more tomorrow.
Things will get more expensive in
associations over the next coming year, even more so for condos.
While it will be challenging to deal with, it won't be impossible.
You don't have to go at it alone; invite the association CPA, have a
reserve study to present, talk with your management partner,
prepare a presentation of the current financial situation and what
would happen if steps are taken. My experience has shown that when
you go the extra mile to communicate and prepare, most individuals
will understand and support the Board.
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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
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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
www.ManagedByAffinity.com or call 1-800-977-6279
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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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