If you’re a management company or a homeowner on the board of your HOA, you know how important it is that homeowners pay their HOA assessment fees. Whether it be for landscaping purposes or recreational improvements, they are an essential part of maintaining the pleasant community you’ve created. You’re probably already aware that most homeowners may not attend regular HOA meetings or go through the handbook, so they miss out on important information – like having to occasionally pay assessment fees on top of their regular HOA fees.
With that being said, it’s a good idea to educate homeowners on the importance of HOA assessments in any way you can. Here’s why:
It Helps with Compliance
Some HOA assessments can be expensive depending on what they’re going to be used for. If homeowners aren’t aware that they’re responsible for paying occasional assessment fees, they’ll definitely be blind-sided by any that come their way. Obviously, this can result in confusion and frustration for homeowners, which is something any HOA would want to avoid.
However, if homeowners are educated on HOA assessments, they are likely to be more compliant. This can be as simple as including updates on newsletters or creating a specialty flyer. The more aware of the HOA rules and guidelines that apply to their property, the easier it will be for you to collect fees when they are due.
It Reinforces Benefits
Most times, homeowners know that they have to pay HOA fees every month, but don’t truly understand how much value an HOA brings. This is especially true when it comes to property value. Not all homeowners are aware that being a part of a HOA neighborhood is capable of increasing the value of their property. In fact, studies have shown that properties belonging to an HOA can be sold for about 4% more than properties that are not part of a HOA. That’s an extra $4k in their pocket for every $100,000 of home value!
Educating homeowners of benefits like increased property value can remind them how essential HOAs are. As a result, they’ll be more understanding of HOA assessments, and possibly even more willing to pay them than before! If you have a HOA website, make sure to feature some of these key benefits somewhere on it.
It Spurs Communication
When it comes to running a HOA, effective communication with homeowners is essential for success and should be high on the priority list. Informing homeowners of assessment fees provides a great opportunity to further open that avenue of communication and create the trusting relationships any HOA would want.
Fortunately, there are a few easy ways to provide homeowners with education around assessments: an online HOA message board, dropping one pagers in each mailbox, or posting info on your HOA website.. They are all simple and quick to execute and can help with ensuring that you’re getting the message out effectively. Homeowners will likely appreciate the extra effort and education on your part and will give them the opportunity to reach out with any questions.
Let Page Per Page Help
Now that you understand the benefits of educating homeowners on what HOA assessments are and why they’re important, consider giving it a shot (if you haven’t already!). As we mentioned, newsletters and flyers are an easy way to communicate with homeowners and don’t require HOA board members or management companies to work harder than they have to.
If newsletters and flyers are the route you’re taking you may also want to consider working with a printing service that specializes in HOA mailings. Their expertise in the field can provide you information on what works and help you decide on the best approach.
Page Per Page is the leading partner for community association’s printing and mailing needs. From coupon books and ballot mailers to general communications and HOA assessment notices, Page Per Page will design, print and mail all of your community association documents for you. With decades of experience in the industry, you can rest assured that Page Per Page can be a valuable and knowledgeable partner for your community too.