If you’re visiting a property management services website, you might already know what an HOA is: a governing body that has the legal power to maintain the public areas of any given neighborhood. You probably also know that HOAs set and enforce rules and regulations (known as Covenants, Conditions and Restrictions, or CCRs for short), and that they also will collect mandatory dues that go solely towards the community; board members generally are volunteers.
In short, you may know how an HOA operates, but if you haven’t lived in one, you may not know what such a complex system run almost entirely by volunteer power can bring to your neighborhood. Gassen, an Eden Prairie provider of HOA management services, discusses what a well-run HOA can do for your community below.
Neighborly Bonds and Property Values: The Two Connect in the HOA
Ask any provider of anything from accounting property management to online property management, and they’ll tell you that HOAs serve a dual purpose:
1. Maintaining property values. By setting aesthetic standards in the rules and bylaws, HOAs give their neighborhoods pleasing, uniform appearances. Through the collection of regular fees, HOAs are also to provide neighborhood amenities, such as swimming pools and playgrounds, as well as pay for public landscaping. Finally, they also often require that members keep up with the maintenance of their own homes. A manicured vibe, recreational facilities, and well-kept home all help ensure that a home will sell for higher, regardless of where the market is at.
2. Strengthening community bonds. HOAs bring people together. Financial investment in the neighborhood means that residents feel a sense of belonging and collective gratification in the community they have invested in. HOAs, through online property management, can also plan neighborhood-wide events that bring members closer. Furthermore, board meetings give members an opportunity to use their voices to better their communities, further instilling a sense of pride.
HOAs neatly unite the tangible and the intangible—the numbers side of a great neighborhood and the much-less-talked-about community side. These organizations lift residents up from multiple angles, uniting people behind their neighborhoods and helping communities grow.
Thinking About Investing in Property Management Services? Contact Gassen Today
We have years of experience growing thriving communities in the Eden Prairie, and we’d be privileged to begin work with yours. Give us a call us today at 952-922-5575, or message us on our contact page.