Is your HOA receiving a lot of complaints lately? According to Rocket Mortgage, less than half of HOA homeowners actually like being part of an HOA. The rest are frustrated with things like:
- The size of HOA assessments
- The way the HOA board is using the community budget
- The lack of effective HOA leadership
How can you regain community trust and increase member satisfaction? One option is to seek out professional services.
How can home owners association property management ensure the success of your HOA? Read on to find out.
Increasing Community Engagement
When you choose the right group to manage your HOA, you'll see an immediate prioritization of communication. This may include strategies such as:
- Employing a homeowner portal
- Sending out monthly newsletters
- Increasing the number of community-wide HOA meetings
When you're dealing with community dissatisfaction, the first thing you need to do is open the door to honest conversations. This allows homeowners to air their grievances and board members to address the plans they have to improve HOA success.
Evaluating HOA Finances
If mismanaged funds are the root of your problem, a home owners association property management company can make a huge difference. Professionals can evaluate your financing to:
- Determine how much revenue you need for the year
- Build reserve funds for emergencies
- Pay off all local and state taxes
Taking a fresh approach to HOA financing can instill more trust in your ability to meet HOA board responsibilities. Thorough financial planning ensures that you're planning properly for your community's future.
Improving Community Assets
The amenities you offer your homeowners are the foundation of your community living. These amenities may include pools, gyms, parks, laundry facilities, and other shared spaces.
After evaluating your financial standing, an HOA property manager can help you put plans into place to improve your community assets to benefit your homeowners. For example, they can help you budget for needed repairs and ongoing preventative maintenance.
Enforcing HOA Rules and Regulations
Inconsistent enforcement of HOA rules and regulations can lead to frustration. Some of your members may feel that your approach doesn't adequately represent their goals. Others may feel that you're being discriminatory.
According to NOLO, Colorado HOAs have the right to foreclose for unpaid assessments, but only under certain conditions. HOA management can help you stay on top of rule enforcement while promoting legal compliance. Consistency and legal compliance are key when trying to improve your reputation with your community members.
Need Home Owners Association Property Management in Colorado Springs?
If you're facing frustration or backlash from your homeowners, know that you're not alone, and hope is not lost. While many homeowners are unhappy with their HOA, there are steps every HOA can take to improve their satisfaction rate. Hiring home owners association property management is one of the most effective ways to ensure success.
PMI Pikes Peak is a woman-run property management group in Colorado Springs. Our licensed community association manager has over ten years of real estate management experience. Contact us to customize the support you need for your HOA.
