4 out of 4 stars
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Are you in the property and real estate business? Do you belong to any of the over 344,500 community associations in the United States? Then you need to get Community Association Manager's Standard Manual and Guide by Thomas A. Westerkamp into your bookshelf right now. Better still, you need to make it your regular study material if you desire to succeed in the real estate world.
This book looks at every aspect of property ownership and management as it concerns the real estate business. The author discusses core issues such as setting up an association board, financing, legalities, and property maintenance. He also explains in detail the three different community associations, their structures, and the principal officers that constitute their board. In a nutshell, this book provides answers to questions bordering around property ownership and real estate management.
One of the outstanding things about this book is that the author is an authority in his own right on matters regarding property management and real estate development. With over 40 years of property management experience under his belt, he has earned bragging rights to write a manual to guide students and professionals in this field. Most of the things he shares in this book aren't textbook knowledge; they are products of his years of experience. The author does an excellent job of thoroughly explaining all that the reader needs to learn from this book — he left no stone unturned.
My best aspect of this book was the third chapter, where the author discussed the legalities involved in property ownership and real estate management. He was both concise and detailed in addressing 27 matters that could require legal assistance. After reading through, I concluded that there couldn't be any more reason for community association board members to involve the law (I could be wrong). This was how much of a thorough job I believed the author did in this book. He went further to proffer smart ways to save money if you were involved in a legal battle — everyone and their grandmother knows the financial implication of legal matters. The author mostly made a strong case for the preparation for possible legal fallouts and natural disasters.
Another thing I liked about this book was the author's thoughtfulness in providing additional resources at the end of most chapters. This showed the author's desire to give the reader a holistic experience while studying the manual. The author also used relevant samples to demonstrate how the reader should implement some of the things learned from this manual. There were two examples in this. The first was a sample of an association and property management agreement — for cases when a cooperative didn't want to manage their properties by themselves. The second was a sample of Reserve Advisors' reserve study. This provides the education and direction needed to proceed with the legalities of real estate business. These samples would provide the reader with templates to follow.
Everything about this book is on point — writing, editing, and delivery. I rate it 4 out of 4 stars. As the title suggests, this book will benefit community association managers. Anyone interested in property management and real estate will also find this book helpful.
Community Association Manager’s Standard Manual and Guide
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