HOA management’s primary responsibility is to ensure that residents are satisfied in their living situations and that the community continues to prosper and grow. So when your HOA suddenly starts losing or otherwise can’t retain its residents, it’s understandably quite upsetting.
The bad news: this can have something to do with how the board is running things. The good news: it’s usually in the board’s power to fix it. Below, Gassen, Eden Prairie providers of property management services, touches on a few reasons why your HOA might be losing members, and a few practical and accessible solutions.
Lack of Clear Communication
A resident who has been left in the dark is an unhappy resident—one who feels neglected and like they have no effect on what goes on in their community. If your board has been struggling to get important notifications, like an upcoming increase of dues or a big community bash, out to your residents, tenants might move on to greener pastures where the board makes them feel more involved.
Fixing communication problems in an HOA is generally as straightforward as upping the frequency and making sure they appear in multiple formats to cater to resident needs; online property management tools can help with this. It also never hurts to have a third party proofread any communications to ensure coherence and the proper tone.
Dues are a standard part of living in an HOA; they help pay for amenities and the conveniences residents know and love, like snow plowing. That being said, there is such a thing as asking for too much—and if this is the case for your board, you effectively could be pricing people out, or at the very least inspiring enough resentment for high turnover.
Accounting property management can help make sure your board is managing your community smartly and putting money to good and ethical use.
Lack of Community Improvements
HOA communities should always be striving to grow, improve, and heighten resident satisfaction. If the board hasn’t been putting money towards that in the form of amenities, new services, or similar developments, residents could feel that their dues aren’t being used fairly.
As we stated in the previous section, accounting property management can ensure that your association’s money is going where its mouth is, so to speak. Spending too much is problematic, but spending too little is just as much so.
Gassen: Stellar Service, Shining Communities
Need help with HOA management? Let our five-star team take the reins and help your community grow. Give our Eden Prairie office a call today at 952-922-5575.