In the next decade, Baby Boomers will swell the ranks of the population over age 65, and they will be with us longer than any other demographic group in the nation’s history thanks to improved nutrition, advanced health care, and eradication and control of disease that have come about during their lifetimes. Few associations are prepared for the inevitable effect this will have on their communities. Here are the top ten reasons why.

1.                  Shear numbers: The U.S. Department of Health and Human Services project that by 2030, one of every five Americans will be over the age of 65. Eleven percent of the U.S. population will be between 56 and 75, and nine percent will be over 75. Many will be living in community associations.

2.                  Staying put: Baby Boomers will stay in their current homes long after they retire. No nursing home, assisted living, or retirement community for them. Their long-term needs will fall to the community association.

3.                  Dwindling resources: Community associations will be expected to fill gaps in the overall well being of their senior residents because Baby Boomers will not only live longer than any other demographic group in the nation’s history, but they will have fewer family and financial resources.

4.                  Increasing services: Community associations will be tapped for an increasing number of special housing services. DHHS predict that, “There will be large increases by 2030 in the numbers [of elderly] requiring special services in housing.”

5.                  Costs: Community associations will be overwhelmed by the hidden costs of meeting the disproportionate needs of an increasing number of aging Baby Boomers.

6.                  Loss of leadership: Community associations will find it increasingly difficult to seat capable board members when the pool of qualified candidates dwindles due to age. Gaps in leadership will jeopardize community governance and management.

7.                  Fewer volunteers: Community associations that rely heavily on volunteer help and self-government will find it increasingly difficult to fill positions as the capacities of senior residents diminish.

8.                  Regulations: Community associations will find themselves severely affected by federal and state regulations on fair housing, fair debt collections, or Americans with disabilities as an increasing number of their residents become eligible for these programs due to advancing age.

9.                  Outmoded documents: Most community association governing documents will not accommodate the realities facing Baby Boomers in the next two decades. Associations will need to revisit occupancy and lease restrictions to accommodate live-in care providers and “roommates” who solve economic limitations by sharing a home.

10.             Technology: As savvy Baby Boomers’ mobility decreases, their demand for technology will increase. Associations will need to ramp up their technology to provide online voting and dues payment, emergency call systems, smart homes, and other technological advances that will allow all residents greater freedom.

How can your community association meet these challenges? Read Boomer Shock-Preparing Community Associations for the Retirement Generation. Click here for ordering information.
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