Friday November 06, 2026
What makes homeowners choose not just a house, but a community they want to stay in for years?For board members, the answer increasingly reaches beyond what appears on a balance sheet. Reserves, insurance and operating costs matter. But so do the experiences residents have once they step outside their front doors: the clubhouse where neighbors gather, the trail where families spend their weekends or the familiar team member who knows a resident by name.
That interplay between financial discipline and resident experience is reshaping how boards think about long-term success.
The priorities shaping the future of master-planned and amenity-rich communities
During a recent FirstService Residential panel discussion centered on findings from the 2026 BENCHMARK Master-Planned and Lifestyle Communities report, industry leaders explored the financial, operational and experiential trends shaping amenity-rich communities across the country.As moderator Brent Reynolds, president of Master-Planned and Lifestyle Communities for FirstService Residential's South Region, put it, creating a thriving community requires balancing “operational discipline, thoughtful planning, and experiences that bring people together.”
That balance between the science and art of community management became the defining idea of the discussion.
Community value extends beyond the front door
Infrastructure, maintenance and property values remain fundamental. But residents increasingly experience their amenities as part of home.Katie Ward, president of the West Region at FirstService Residential, described the shift simply:
"Our board members and our residents consider the amenities, whatever that may be, an extension of their home."For boards, that changes the conversation. An amenity is not simply another line item to maintain. The right amenity, thoughtfully operated, can contribute to if residents purchase a home in a community, how residents experience their community, and whether they continue to see value in living there.
Reserve planning should follow the community's vision
Reserve planning becomes especially consequential in communities with extensive infrastructure and amenity portfolios.Brian Pinkham, vice president of the East Region at FirstService Residential, urged boards to look beyond the annual budget:
"Reserve funding is part of the broader strategic plan, both short-term and long-term. This isn't an isolated budget item. It's requiring a lot of strategy and focus."That means looking ahead at what a community owns, when major assets may need attention and what those projects could cost. For an amenity-rich community, the conversation can extend from roads and gates to clubhouses, pools, landscaping and recreational amenities.
The challenge becomes more difficult when communities defer those conversations.
Kristie Rose-Zapp, president of Master-Planned and Lifestyle Communities at FirstService Residential, described how communities can enter a financial “catch-up” period after transition when early funding has not adequately accounted for future needs.
"It's a difficult balance between residents wanting to enjoy amenity-rich communities and the cost of having those amenities for longevity."In other words, the reserve question is not simply “How much should we fund?” It is “What are we trying to sustain?”
Insurance starts with understanding how residents use the property
Property coverage may be the starting point, but it is not the whole picture. Pools, water features, recreation programs, food and beverage operations and events can introduce exposures that are easy to overlook when the conversation centers only on buildings.Ward explained:
"Property coverage is sort of table stakes. We have to make sure the assets of the communities are properly insured. But what really has been influencing insurance prices and some of the trends that we're seeing is liability."Consider something as ordinary as inviting a food truck onto the property. Suddenly, there are questions about vendor coverage and liability. Add liquor service, a water slide or a resident event, and the community's risk profile can look very different.
That does not mean board members must master every provision of an insurance policy.
Pinkham offered a more practical standard:
"Boards don't have to become the insurance experts. They just need to understand the community and the risk that's involved, and ask the right questions."The board's role is to understand how the community operates and make sure the right questions are being asked of experienced insurance professionals. FirstService Financial can help, providing insurance, cash management and lending solutions tailored to the needs of clients.
Hospitality is changing what residents expect at home
Perhaps the biggest shift discussed by the panel had little to do with buildings or budgets.It was hospitality.
Residents experience personalized service at hotels, restaurants and resorts. Increasingly, those expectations follow them home.
Ward said the distinction goes deeper than terminology:
"In the past, we might have used the terminology customer service. Hospitality is a much different mindset."Hospitality requires people who can turn a physical space into an experience. A clubhouse, for example, is only a building until programming, service and relationships give residents a reason to use it. That is why talent matters.
Rose-Zapp described what residents notice:
"Residents want to see consistency. They want to walk into a clubhouse, see the same face. They know their dog, they know their kids, they know their birthdays."That familiarity is difficult to capture on a spreadsheet, but residents notice when it disappears.
Sometimes the best amenity investment isn't a new amenity
For boards facing competing capital priorities, that may be one of the most useful takeaways from the panel discussion.Rather than considering adding more amenities, some communities are asking a different question: Are we getting enough value from the spaces we already have?
Pinkham recommended making resident feedback part of that evaluation:
"What are the residents using? What was important yesterday, but not so important today? What will they likely use in the near and not-so-near future? That's a constantly changing opportunity to take a look at."One example discussed during the panel involved a community that invested approximately $1 million to enhance its food and beverage experience. Instead of treating the operation solely as an amenity to subsidize, community leaders viewed it as an investment in how residents connect.
The response was tangible. One seasonal resident reportedly traveled back specifically for the restaurant’s grand opening.
Other communities are redefining wellness in similar ways. Rose-Zapp pointed to outdoor ranger programs for children, trails, nature education and family activities.
"It's about getting families and kids out of the house, away from the TV and their devices, and enjoying every single thing that amenity-rich communities have to offer."The common thread is not having more. It is making what already exists matter more.
Resident retention can tell its own story
Those investments may influence something else boards watch closely: whether residents stay.Ward noted that in master-planned and amenity-rich communities, homeowners who need a larger or smaller home sometimes move within the same community instead of leaving it.
"People stay longer. So the rate of transfer of the homes is not at the average pace. Things are moving slower because people are happy, they're staying longer."Rose-Zapp similarly described families growing within communities and residents choosing larger homes while remaining connected to the lifestyle they value.
For boards, that raises an interesting question: Could resident retention be another way to understand whether the community experience is working?
Benchmarking is context, not a scorecard
The 2026 BENCHMARK Master-Planned and Lifestyle Communities report gives boards comparison points. But a benchmark should start a conversation, not settle one.Amenity mixes, governance structures, resident expectations and risk profiles vary. Comparing a single assessment figure with the community down the road can produce the wrong conclusion.
Pinkham suggested starting somewhere else:
"The starting point is: What's the experience that you want to create, and what's your vision for the community that you're trying to deliver?"From there, boards can use benchmarking to put spending into context and challenge assumptions.
A community spending above a median is not automatically overspending. One below it is not automatically operating more efficiently. The better question is whether spending aligns the assets, services and experiences residents value.
Where science meets art
The panel kept returning to one central idea: managing an amenity-rich community requires both science and art.The science is the financial and operational discipline: reserves, insurance, budgeting, governance and planning. The art is what residents experience: hospitality, programming, relationships and a sense of belonging.
Ward summarized the balance:
"You have to have the science part. But the art has become just as important, and in some cases more."Financial discipline and an exceptional resident experience are not competing priorities; they are deeply interconnected. In a thriving amenity-rich community, this symbiosis is essential. Strategic fiscal management strengthens long-term sustainability for community programs, while a well-defined lifestyle vision provides the roadmap boards need to optimize capital allocations.
That is why Reynolds offered boards a deceptively simple piece of advice:
"Approach each budget season as a conversation about investment, not cost."That change in language creates a different boardroom conversation.
Instead of asking only “What will this cost?”, boards can ask “What value will this create?”
Start with the vision
When the panelists were asked for one piece of advice, their answers converged around the same principle: know what you want the community to become.Pinkham encouraged boards and developers to look beyond the next budget year:
"Use benchmarking, use strategic planning, think two to five and more years ahead, but know that you can make your mark, and it's yours to make."Rose-Zapp put it more simply:
"Create a vision and build a team around that vision... and stay true to that vision."For board members, that may be the most useful benchmark of all.
Budgets will change. Insurance markets will change. Amenities will age, and resident expectations will continue to evolve. A clear vision gives boards something against which to test each decision.
With the right insight, expertise and long-term planning, boards can turn that vision into thoughtful decisions that strengthen the community for years to come. FirstService Residential works alongside boards to help connect that vision to the financial planning, operations and resident experiences that bring it to life.
Ready to plan for what’s next? Contact FirstService Residential to explore how we can support your community’s long-term vision.
This information is provided for general informational purposes only and is not intended to constitute, and should not be relied upon as, legal, regulatory, financial, or operational advice, or as a representation or guarantee of any specific services, capabilities, or outcomes. Property management needs, regulatory requirements, market conditions, and available services vary by jurisdiction, property type, and community. FirstService Residential provides services through locally based affiliates and associates, and services and results may vary by community, region, contractual terms, and applicable law.