Young, ambitious, upwardly mobile, single; are these terms a fair description of a typical condo owner? How about retired, empty nest, snow bird, would these terms be a better description? The answer to both questions is a resounding yes. While the stereotypical profile of a condo co-owner normally evokes images of Morty Seinfeld and Jack Klompus engaged in a power struggle over Del Boca Vista phase III, the reality can often be quite the contrary.
Living in a planned community, with all of its amenities, can be a benefit to co-owners in any stage of life. For many younger condo owners a busy career and active social life can often take precedence over yard work and home maintenance. Having these “chores” done for you is a very attractive proposition. It’s a necessary evil for any homeowner and a burden to those who value their free time to the extent that they aren’t willing to sacrifice the hours needed to keep up a home. It’s quite possibly the biggest factor leading the post college generation into the rental market.
For decades couples and individuals in their 50’s, 60’s and beyond have been flocking to condominium communities with a clear purpose to shed the burden of day to day upkeep on the homes that they raised families in or lovingly maintained for a better part of their lives. The benefits of having the snow removed, the lawn maintained and the painting done by a professional are not lost on this demographic.
The newfound time and freedom that comes later in life following retirement can be refreshing. Who wants to spend it maintaining a home that has already served its purpose?
The challenge to the Management Industry is in creating and maintaining communities that appeal to both of these market segments. While the lifestyles and priorities of these two polar opposites may differ the one common thread that ties them together in a condo community is freedom.
The role that a management company plays in this relationship is in enhancing communication within the community. Fostering the relationship between the board of directors and the community at large is very important in maintaining and enhancing any community. When working with communities that comprise a diverse range of ages it is more than important, it is job number one.
Emphasizing the benefits and freedom that come with condo ownership can bring harmony to the relationship between young and old. Once they realize that they are both seeking the same benefits from the communities that they share then common ground is established. Once you have common ground then cooperation and respect amongst neighbors will organically develop, making management easier.
Guest Contributor Sean Gartland
