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| SUN LAKES LIFESTYLES | APRIL 2021 | 3 From the President By Sandra Moyer Well March certainly came in with a roar. How it ends is anyone's guess at this time. The elections of the new Board will not be announced until April 14, therefore I cannot give you the results. I do wish the returning and newly elected Board members the best of luck and I am sure they will continue to work for the best interest of Sun Lakes. Because self-management was a main topic during the Candidates Forum, I want to give you some information to weigh. Self- management means that you not only own the property but also take care of the day-to-day operations necessary to make things go smoothly and keep the property up to date. Residents will look to the Board alone as their point person for routine things, like HOA payments, addressing issues that come up, etc. Pros of Self-Management: 1. Greater control over daily operations - Board makes all necessary decisions. 2. Closer relationship with residents since Board is main point of contact. 3. Gained experience in property management - expect to experience many hiccups along the way, though. 4. Financial Savings - maybe, maybe not - typical property management company costs 8 to 10 percent to pay for their services depending on size of property. Costs to us to hire different departments – big question. Cons: 1. Time required. 2. Liability. 3. Source of stress. 4. Lack of experience. 5. Setting HOA fees too high or too low. Property management means someone else runs the property for you, handling the day-to-day tasks (both big and small) that keep our investment prospering. Property management expertise is invaluable when it comes to rules, regulations, best practices you need to be aware of, Fair Housing laws and many state statutes you must abide by. You also have continuity as Boards change every two/ three years. Please keep in mind you have two Board members who are just going into their second year and will have three new members with no experience. The Board and the Association will now be held liable for all legal claims made against us from employees, vendors, residents, etc. Our Liability insurance will increase dramatically. You will have to hire your own HR Department, Accounting Dept., General Manager, etc. There is no guarantee our existing staff will stay. Yes, they were retained when switching to FirstService Residential because it was in the contract to retain them at current years of service and wages if they choose to stay. Can we afford that on our own, including their Benefit Packages? Big difference in fees for Benefits, Workers Comp, etc. when applying for 100 staff as opposed to a large company that has thousands of employees and therefore lower rates which is reflected in the contract. Also, if the Board chooses to go self-managed, they do not have to put it out to the residents for a vote. These are only a small fraction of issues to be considered when switching to a different business model. So please be informed before voting. The shot clinics here at Sun Lakes have been very successful. Even though I will be off the Board, I will continue to be involved until completion. They will be back to administer the second shot and you will be updated as to the dates when we receive them. George and I have been Sun Lakers for 18 years. We love this community and will continue to be involved and now hopefully have the time to enjoy our amenities. God bless you all and stay safe. Thoughts for the month: As a kid I think I ate too many Rice Krispies. Now all my body does is snap, crackle and pop. Some talk to you in their free time, and some free their time to talk to you. Learn the difference. One minute you're 21, staying up all night drinking beer, eating pizza, and doing sketchy stuff just for fun THEN…. In a blink of an eye, you're 60, drinking water, eating kale and you can't do any sketchy stuff because you pulled a muscle putting on your socks.

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