By Rafael Aquino

Published November 8, 2023  


As the South Florida real estate market ascends to record highs, an undercurrent of change signals a crucial turning point. Property values have soared, but the landscape is shifting with rising interest rates nearing 8%, which are set to recalibrate the enthusiasm of buyers and the strategies of sellers.


Concurrently, new legislative mandates require condo associations to hold reserves for buildings over three stories to ensure structural integrity and safety. This necessary measure introduces a new financial dynamic into the market.


Compounding these challenges is the sharp increase in insurance costs, with premiums doubling for many associations. Such financial strain is not just a budgetary line item; it's a potential harbinger of broader economic impacts within the community.


In this environment, foresight and strategic financial planning are not just valuable—they're imperative. Leadership, whether through a board of directors or a property management team, must be proactive, not reactive. Insightful management is essential to navigate and prepare for these evolving dynamics.


A key aspect of strategic planning is budgeting for 'bad debt,' anticipating the possibility of increased delinquency as costs rise. Incorporating this into the annual budget helps ensure that the association can maintain its financial balance and avoid sudden fiscal shocks.


In response to these challenges, Affinity Management Services offers a proactive step: a financial health survey of your association's financials. This survey is designed to assess your current financial position and help prepare for the coming years. By understanding where you stand now, you can make informed decisions to navigate the future successfully. If you want to learn more, don't hesitate to contact us. 

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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 www.ManagedByAffinity.com 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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