TOPS, a national provider of software for community association management, recently released its snapshot of the HOA Industry by the numbers. Below are a few interesting ones that might get you thinking about your association and how it operates:
- 53% of owners say their assessments are less than $100 per month – remember this is all types of association including single family communities with no amenities.
- 92% of owners say that enjoy living in their association – are your owners that satisfied? Consider doing a survey.
- Restrictions on exterior improvements was the worst thing about living in an association – this should be a reminder to only have restrictions that are essential and make sure your restrictions and clear and easy to follow.
- The best aspect of living in an association was the overall neighborhood attractiveness – that means that your common area maintenance and enforcement of rules and restrictions are keys to having happy owners. Give them the appropriate attention and see the difference in owner satisfaction.