If you live in a Common Interest Development, you may not realize that you are among the 73.9 million Americans who live in a property owners or homeowners association, including condominium communities.
You may think that most residents are happy living in your community, and hopefully, that is the case, but how do these 70 million residents feel about their own associations?
2020 Homeowners Satisfaction Survey Results
The Foundation for Community Association Research, an affiliate of Community Associations Institute (CAI), sponsored a fairly recent national public opinion survey about living in condominiums, homeowners associations, and housing cooperatives.
Here are some of the key findings:
- 89% of residents rate their overall community association experience as very good or
good (70%) or neutral (19%).*
- 89% say members of their elected governing board “absolutely” or “for the most
part” serve the best interests of their communities.*
- 74% say their community managers provide value and support to residents and their
- 90% say their association’s rules protect and enhance property values (71%) or have
a neutral effect (23%); only 4% say the rules harm property values.*
*Satisfaction results grew an impressive 4% in overall experience, 5% in the role of the board, and 4% in the perception of rules.
The goal within your homeowners association should be to do even better than the national averages. If that's not the case, you may solicit the membership to find out their ideas of how to make your community a better place to live. If they are especially pleased about your community, they should be encouraged to share that too! It’s always good to know that you are on the right track.
An HOA board should also look at the community as a whole. While still meeting their fiduciary duties and making decisions for the best of the community, the Board can work toward keeping a good balance that will provide a positive atmosphere where members will be more likely to enjoy their communities.