Attracting New Homeowners to Improve the HOA Experience
A homeowners association would be nothing without its homeowners. So when properties are available, an HOA should do its best to seek out new homeowners to live in the community. But, how do you even begin to do that?
HOAs Need New Homeowners in the Community
Homeowners associations exist to serve their members—the homeowners—and rely on these very members for funds to run the community. When there are unowned properties in the association, the HOA board should find ways to attract potential new homeowners to move in. Why?
For one thing, new homeowners bring much-needed cash flow into the association. As explained, HOAs charge owners regular dues to pay for the various expenses associated with managing the community, including maintenance costs, landscaping costs, management fees, insurance premiums, utility costs, and the like.
When too many unoccupied properties are in an HOA, it results in a budget deficit. This deficit will force the HOA board to charge other homeowners higher dues, essentially charging members fees for vacant homes.
New homeowners also give life to the neighborhood. They will soon be packing up and moving to a much more vibrant area, leaving yours a shadow of a community. If your HOA has a total of 50 homes and, say, only half is owned and occupied; the community can feel empty. This feeling can impact how other owners think about living in the HOA.
How to Attract New Homeowners
The final decision will always rest in the hands of the homebuyer. But, that does not mean HOAs can’t do anything to influence their decision. If you want to attract new homeowners, here are the best ways to do it:
1. Maintain a Pleasing Appearance
People judge with their eyes first, so it makes sense to keep your community beautiful. Improving curb appeal helps invite more potential homebuyers and contributes to preserving property values.
An excellent way to create a more enticing and welcoming appearance is to use landscaping. You can do this yourself or, better yet, hire a professional landscaper to do the job for you. Make sure to look for a trusted vendor, though.
You can also establish a community garden where owners can grow plants such as flowers or even herbs. This garden encourages participation and boosts appeal at the same time. Having a greener neighborhood can also reduce pollution, lower energy costs, and contribute to cleaner air.
2. Offer Technology as a Convenience
It’s all about the experience. An HOA that uses modern technology to offer convenience to its members is far likelier to attract new homeowners. Members will almost always choose the latter when paying their dues by traditional mail or paying their dues online.
Your HOA should consider adopting technology in each aspect of community management. Your HOA can invest in an HOA website with a resident portal. Here, members can pay their dues, access important documents, send in complaints, submit requests, and manage their accounts. A website can also allow neighbors to communicate through forums and chat functions.
3. Organize Open Community Events
Homeowners associations are no stranger to community-wide events. But, if you want to bring in new homeowners into the HOA, consider opening these events to outsiders as well.
Inviting non-members to attend your events is a great way to introduce them to the community. They can mingle with residents and feel what it is like to be part of the association. If they like what they see, it won’t take much to nudge them in the right direction. You could assemble a committee or task an existing one to organize an event that will help attract new residents.
4. Be Pet-Friendly
In the United States, 67 percent of households own a pet. That is the equivalent of 85 million families. To most people, pets are family, and they would instead choose a community that welcomes pets rather than prohibits them.
Of course, there are risks associated with pets, too. As such, HOAs must find the right balance between pet ownership and restrictions. Here are a few tips you can use to promote a pet-friendly yet clean neighborhood:
Make sure residents know that they are responsible for their pets. They must pick up after their pets and follow the community’s rules when it comes to their furry friends.
Require residents to keep their dogs on a leash or a cage when outside the house at all times.
Only allow pets in certain common areas—regular cleanings of shared spaces where pets are allowed.
Hire a professional pet waste management company.
5. Emphasize Efforts to Reduce Utility Costs
Utility bills are often a pain point for homeowners because they can be very high, especially during particular seasons. But, when your HOA is actively trying to reduce utility costs, it can convince a homebuyer enough to choose to move in. Let potential homeowners know that your HOA is committed to saving on utilities. You can communicate this through your HOA website or newsletter.
Here are some tips to help you lower your utility bills:
Invest in sustainable and quality landscaping such as plants that don’t need a lot of water
Install energy-efficient lights and turn them off when not in use
Set sprinklers to go off on a timer
Update your irrigation system
Contact Us
In need of more ways to get more community members in your HOA? Contact Condominium Associates today! We are here to help you maximize your HOA community so everyone can benefit! Call us now!
