As homeowner associations and property managers become more and more common for single-family and multi-family houses and communities, it becomes more and more important to understand how to communicate with residents and build strong relationships.
1. Be clear about expectations.
It’s important to be clear about what is expected from the homeowner or renter from the start. You have to set boundaries and guidelines early and lay out how rules will be enforced. It’s also imperative that residents understand what the HOA will be doing for them, like taking care of minor repairs, the mowing of front lawns, or the upkeep of parks and trails. Both parties want to avoid surprises and unnecessary tension, so being clear from the start about the duties of each party will help establish a solid foundation for a long and healthy relationship.
2. Stay in communication.
Your residents may not want to hear from you constantly, but it’s necessary to stay at the front of their minds. Hosting HOA meetings allows residents a chance to get facetime with you and discuss issues, concerns, and possible improvements. Everyone likes feeling that they’ve been heard and had a chance to make changes. These meetings will also be a great time for residents to ask questions that have been weighing on their minds. It’s recommended to have an HOA meeting at least twice a year, but you may even want to host one every quarter, especially if your neighborhood is seeing a lot of growth and new residents moving in.
3. Keep detailed records.
You will undoubtedly need to know how much of the association’s funds have been spent and how much has been saved. You will also want to know what projects the money has been or will be allocated for. You want to have a handle on the financial situation of the association in order to make recommendations on improvements that can be made.
We know that taking care of everything from the financials to the day-to-day tasks of owning a property can be a lot to handle by yourself. That’s why we’re happy to lend a hand and be here to offer our help in keeping you connected with your residents, taking care of the properties, and offering our advice on the real estate market as your property manager. Don’t hesitate to contact Prism Realty.
For more information on our association management services, click here.
For more information on how our association management process works, click here.
