Consumer Protection or Consumer Cost?

The article highlights the challenges faced by managers and directors in the condominium industry due to the implementation of new legislation and regulations for consumer protection. While the focus on consumer protection is essential, it has resulted in increased costs for management firms and condominiums, leading to potential negative consequences. Managers and directors need to adapt to the new regulations, prioritize ethical practices, and maintain accurate record-keeping to defend against accusations. However, the rising costs are forcing some smaller management companies to leave the industry, and self-managed condominiums might face long-term financial risks by opting for short-term cost-saving measures. The article emphasizes the importance of networking, compliance, and professional management to navigate the complexities of the industry successfully.