If you and your community want to invest in the wellbeing of your neighbors—and also to increase property values while you’re doing it—starting a homeowner’s association (HOA) is the way to go. Homeowners associations are humanistic, collaborative efforts whose sole intention is to benefit all members of a neighborhood community; they often are a great force for good.
Below are some common ways that implementing HOA management can help any community reach its full potential, both socially and monetarily.
Higher Property Values
Homeowners associations often implement a certain aesthetic standard for lawns and housing exteriors. Though this may seem somewhat restrictive to those outside the HOA, it actually benefits HOA members economically by increasing the value of all homes within the neighborhood. Think about it. A well-maintained house in a well-maintained neighborhood is going to sell for a much higher price than one that might not be so well-cared for. The aesthetic standards of an HOA financially benefit every member of the neighborhood..
An HOA is, in essence, a team of people who care deeply about the well-being (both financial and mental) of a neighborhood community. It unites people who all have a similar goal in mind. And when those people are united behind their common purpose, close relationships are bound to form. When properly managed—through online property management, other property management services, or something else entirely—-an HOA will bring the people of a community closer together socially.
Financial Power to Benefit a Community
When residents pool their money into paying for an HOA, they can turn that money back into community luxuries. Playgrounds, pools, parks, and tennis courts are all common HOA purchases that provide space for community connections. Because these are public spaces, the whole community benefits from their presence; they save residents money they may otherwise give to private facilities (such as gyms), and they provide a gathering space for the community to bond.
Consider Hiring Property Management Services
If you think implementing an HOA might be right for your community, contact Gassen of Eden Prairie, Minnesota today. We offer everything from online property management to accounting property management to help your neighborhood achieve its highest standard of living. To find out more about our how we can help you with your property management needs, call us today at 952-922-5575, or you can message us on our contact page.