Beyond the building: What today's Utah high-rise boards need to succeed

Utah's skyline is changing. From downtown Salt Lake City to Park City and other growing urban centers along the Wasatch Front, more people are choosing condominium and high-rise living than ever before.

Community associations now play a significant role in Utah's housing landscape. According to the Community Associations Institute (CAI), approximately 645,000 Utahns live in more than 4,000 community associations statewide, representing roughly 212,000 homes. Together, residents contribute an estimated $1.1 billion each year to maintain, operate, and enhance their communities.

As these building become more sophisticated, so do the expectations placed on the boards that govern them.

Today's high-rise boards are responsible for far more than approving contracts and reviewing budgets. They must protect property values, oversee increasingly complex building systems, manage risk, and help create a living experience that residents are proud to call home.

The role has evolved from oversight to leadership, redefining what successful board governance looks like in Utah's high-rise communities.
 

High-rise leadership is not what it used to be

Not long ago, managing a high-rise community was largely focused on building maintenance, vendor oversight, and addressing day-to-day resident concerns. While those responsibilities remain essential, they represent only part of the picture today.

Technology now touches nearly every aspect of building operations. Cybersecurity threats continue to evolve. Compliance requirements are becoming more complicated. Residents expect seamless communication, convenient services, and amenities that support their lifestyle.

At the same time, Utah's high-rise communities are attracting a diverse mix of residents, from professionals seeking a walkable urban lifestyle to seasonal homeowners and retirees drawn to convenience and connection. As expectations continue to evolve, boards are being asked to make decisions that influence everything from resident experience to long-term financial health.

According to CAI, more than 21,800 Utahns serve as volunteer leaders in their community associations each year. Many are helping guide decisions related to technology, capital planning, resident engagement, financial stewardship, and the long-term direction of their communities

"With so many Utahns living in association-managed communities, board leadership has never been more important. The decisions boards make every day influence the resident experience, impact property values, and help shape a community's long-term success."

Steven Parker, president of FirstService Residential

Growth brings new opportunities and responsibilities

Utah continues to be one of the fastest-growing states in the nation. According to the Kem C. Gardner Policy Institute at the University of Utah, communities in Salt Lake, Utah, Davis, and Weber counties added nearly 37,000 new residents and almost 18,000 housing units between 2023 and 2024, accounting for nearly 73% of the state's population growth.

For high-rise communities, that growth creates opportunity. Strong demand can support property values, attract investment, and drive improvements across urban neighborhoods.

It also raises the stakes for board leadership.

As buildings age and operating costs continue to rise, boards must look beyond annual budgets and immediate maintenance needs. Reserve funding, infrastructure improvements, insurance costs, life-safety systems, and long-term capital planning all require careful oversight and informed decision-making.

Steven says,

"Many boards are realizing that success isn't just about solving today's problems. It's about having a long-term strategy that keeps the community financially strong, operationally sound, and attractive to residents for years to come."

What boards need from management today

Many high-rise communities were built around management structures that worked well for a different set of challenges. Today's operating environment looks very different.

As communities become more complex, boards are increasingly looking for management partners that offer more than day-to-day operational support. Areas such as cybersecurity, compliance, reserve planning, insurance, and major capital projects often require specialized expertise that extends beyond a traditional management model.

Today's boards need access to guidance, resources, and subject matter experts who can help them anticipate challenges, evaluate options, and plan confidently for the future.

According to CAI, homes in community associations are generally valued at least 4% higher than comparable homes outside association-governed communities. That makes thoughtful governance, professional management, and long-term stewardship even more important to protecting and enhancing property values.

"The conversations we're having with boards today are very different than they were a few years ago. They're looking beyond what's in front of them today and asking bigger questions about financial planning, risk, and what's next for their community. They want a management partner who can help them think through those challenges and plan ahead."

Xiomara Tejada, director of business development for FirstService Residential

A more complete approach to high-rise management

As Utah's high-rise communities continue to evolve, many boards are rethinking what they need from a management partner.

To help meet those needs, FirstService Residential combines local market expertise with the resources of North America's leading community management company. Through a team-based approach, boards gain access to specialists and support services that complement the work of their community manager and on-site team.

Support includes:

• Financial management, budgeting, and reserve planning expertise
   
• Risk management and insurance resources
   
• Operational guidance and project management support
   
• Board education and governance best practices
   
• Digital tools that enhance communication and transparency
   
• Staff training and professional development programs
   
• Customer care resources that support residents and board members

This structure helps preserve institutional knowledge, strengthen operational continuity, and support better outcomes for residents, board members, and on-site teams.
 

Looking ahead: Questions every board should be asking

The most effective high-rise boards don't wait for challenges to force change. They regularly evaluate whether their governance, planning, and management approach is keeping pace with the needs of their community.

As Utah's high-rise communities continue to evolve, boards may want to consider:

1. Are our systems and processes prepared to keep pace with changing technology?
    
2. Do we feel confident in our approach to risk management and compliance?
    
3. Is our reserve funding aligned with future capital and infrastructure needs?
    
4. Are residents receiving the level of communication, service, and transparency they expect?
    
5. Do we have access to the expertise and resources needed to support our community's long-term success?

These conversations can help boards identify opportunities, address potential risks, and make more informed decisions about the future.

Steven adds,

"The boards that tend to be the most successful are the ones that take the time to look ahead. They're not just focused on what's happening today. They're thinking about future capital projects, changing resident expectations, emerging risks, and how their community will continue to thrive five or ten years from now."

Start the conversation about what's next

Utah's high-rise communities are entering a new chapter. Meeting today’s realities requires more than strong intentions. It requires thoughtful planning, informed decision-making, and access to the right expertise and resources along the way.

Whether your community is located in downtown Salt Lake City, Park City, or another growing urban center across Utah, the choices made today can have a lasting impact.

If your board is evaluating its plans for the future, now is the time to start the conversation. Connect with FirstService Residential to explore how the right partnership can help support your community's goals for years to come.

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.