3 HOA Trends

By on Jun 14, 2018 in News

Homeowner associations are experiencing a period of rapid change. These changes influence everything from how parties communicate to the appearance of the community.

Explore three HOA trends for 2018-2019.

Revisiting Short-Term Rental Rules

Short-term rentals are an increasingly hot topic, particularly in popular tourist destinations and bustling metros. Many HOAs are tightening up short-term rental restrictions due to local government policy. Complaints from neighboring owners over safety, noise, and cleanliness have also raised concerns

At the other end of the spectrum, some HOAs are finding ways to amend bylaws, making it easier for owners to rent out their units. This is rare, occurring only when the majority of owners value the economic potential of short-term rentals.

HOAs may also find themselves revisiting rules about the community’s appearance. Regulations on political signage, flags, and other exterior décor have surfaced during owners’ meetings throughout the country and will likely continue.

Increasing Demand for Certified Property Managers

The demand for licensed property managers has surged in recent years. Community association managers (CAMs) remove the burden of fee collection while dedicating time and resources to owner and prospect care. Residents appreciate the professional services. Managers benefit from delegating tasks and potentially higher resident satisfaction.

In most states, CAMs do not need a license. The lack of consistency and regulation has managers seeking CAMs with certifications in an effort to ensure quality

Organizations such as the Community Associations Institute (CAI), Institute of Real Estate Management (IREM) and National Associated Builders and Owners (NABO) have witnessed increased enrollment. As these graduates enter the workforce, managers will have a larger body of certified CAMs from which to choose.

Growing Prominence of Software Solutions

Owners and manager both are discovering the benefits of condo-specific software that expedites documentation and billing processes.These solutions boost efficiency, cut costs, and improve communication. The software can also be a great way to coordinate activities among owners, handle maintenance requests and store HOA documentation for quick reference.

Properties with condo management software are poised for success by offering residents and prospects the conveniences that they expect in the digital age.