Being a board member isn’t always easy, but it can be very rewarding when you’ve successfully managed your HOA. So what does success look like for a board of directors?
Perhaps your board measures its success by how much more financially stable the HOA has become. Or maybe it bases it on development of one or more long-term plans or completion of key projects. Every one of these is a valid way to judge your success and a reason for your board to be proud.
But let’s be honest: The main gauge of success is what your residents have to say. They are the ones your association serves, after all. Getting accurate feedback from residents, however, isn’t always easy to do.
Fortunately, a national survey conducted in 2016 by Zogby Analytics and commissioned by the Foundation for Community Association Research looks at what HOA residents across the country think. And the survey paints a positive picture. For the sixth year in a row, residents in HOA communities indicate that they are overwhelmingly satisfied. Here are the top statistics the survey reveals:  
  • 65 percent of respondents report that living in an HOA community has been a positive experience. This includes those residents who rated their experience either four or five on a scale of five.
  • 81 percent of residents say they are on friendly terms with their board of directors. As any board member knows, it’s not easy balancing the duties of your role with enforcement of the rules. But it seems that the majority of you are managing it well.
  • 84 percent of residents believe that their board members strive to serve the best interests of their community. This includes residents who said that members were “absolutely” or “for the most part” striving to serve their interests. This shows that residents have a great deal of confidence in the goals and intentions of their HOA boards.
  • 82 percent of those residents who had any direct interaction with their community manager said it was a positive experience. This is a relevant statistic since community managers are often in the difficult position of making residents feel good about their community while also enforcing rules and helping to mediate community conflicts.
  • 62 percent of respondents feel that the amount of the overall assessments that they pay for services is just right or too little. Apparently, residents understand the value they get from their HOA fees.
  • 66 percent of respondents believe that their HOA rules protect and enhance property values. This demonstrates that, for the most part, residents understand the need for an HOA.  
These statistics provide an objective view into the minds of residents. Hopefully, they also remind you of why you’ve chosen to serve on your board. So give yourself a pat on the back!
To learn how a community manager can help make it easier to meet the needs of your community, contact FirstService Residential, Arizona’s leading community management company. 
Wednesday August 03, 2016