Overview
For many associations, unexpected emergencies can quickly derail even the most carefully budgeted improvement projects. One South Carolina community with 525 units experienced this first-hand when they were preparing for a long-awaited clubhouse renovation.
Just as plans were underway, a major pipe burst in the pool cabana bathrooms, forcing the board to divert funds to emergency repairs. With little money left to move forward, the renovation project seemed out of reach—until CAMS and its Trusted Service Provider (TSP) Program stepped in with a solution.
The Challenge
The broken pipe required immediate attention, and the cost consumed the budget set aside for the clubhouse renovation. The board was left with two difficult options: delay the project indefinitely or seek alternative funding through loans or special assessments, both of which would be unpopular with homeowners.
The Solution
Through CAMS’ Trusted Service Provider Program, the community was introduced to Choice Property Resources, a company specializing in negotiating contracts with communications and utility providers on behalf of associations. These agreements not only reduce costs but also generate revenue streams for communities.
Key steps in the process included:
- Vendor negotiations: Choice obtained multiple estimates and secured the best deal for the community.
- Board engagement: A Q&A session was held to align expectations and ensure transparency.
- Immediate funding: The community received a substantial up-front payment upon signing, with additional quarterly revenue to follow.
The Outcome
Thanks to the agreement with Choice:
- The community avoided taking out a loan or levying a special assessment.
- Renovations to the clubhouse are now underway as planned.
- Over the next ten years, the association anticipates substantial revenue from the Choice agreement.
- The only requirement was designating a preferred vendor on community materials such as flyers and websites.
By securing this alternative revenue stream, the community not only addressed the emergency pipe repair but also safeguarded its ability to complete a major improvement project without added financial stress on residents.
Why It Matters
Unexpected expenses are a reality for all associations, but having creative financial options makes all the difference. Partnering with services like Choice and CAMS TSP Program provides a reliable, ongoing source of income—helping communities stay resilient when “life happens.”
Conclusion
This South Carolina community’s experience highlights how associations can leverage outside expertise to turn potential setbacks into success stories. By working with CAMS TSP Program and Choice Property Resources, the board preserved its renovation plans, avoided financial hardship for homeowners, and opened the door to long-term revenue opportunities.
About Community Association Management Services
In business since 1991, CAMS has grown to become North and South Carolina’s premier community management company. With experienced local managers in each of its nine regions, CAMS provides innovative solutions to the community associations it serves. To learn more, visit www.camsmgt.com/choose-cams.
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