How to Increase Community Value for your HOA or Condominium Association through Property Management
Increase neighborhood value and attract home buyers with these simple tips
The biggest secret to raising property value is to demonstrate that you care about your neighborhood or condominium. In order to demonstrate to potential homebuyers that the neighborhood is well cared for you can take simple steps to maintain the property.
The concept sounds simple enough, yet it’s surprisingly rare to find well maintained properties that are desirable to home buyers effectively enough to increase in value.
Fantastic curb appeal, clean and updated public spaces, and attractive landscaping will draw interest. Then, the well managed administrative and financial aspects of the Association will turn that interest into sought after South Florida real-estate. Increasing property value for the long term.
Demonstrating that a neighborhood is properly cared for to potential home buyers requires work.
Establish yourself as a desirable neighborhood in South Florida. With a few simple steps you can bring your condominium or HOA up a notch. Our property management services are designed to help you achieve your property value goals.
It literally, ‘takes a village!’
All homeowners and residents should take pride in their neighborhood.
The neighborhood equally should reflect the residents well. Thus, it is a shared responsibility to keep the space presentable and professionally kept.
Residents must show respect for the rules and actively participate in the consideration of the community. Showing prospective home buyers that everyone respects and cares for your community takes mindful effort.
There must be a strategic plan with a goal to increase the property value for a condominium Association for HOA. This takes time and planning.
By working with a property management company you strategize with industry professionals to gain valuable insight, and save money and time.
Together with a property manager you can increase property value of your Boca Raton community.
Simple and effective planning for high Association value for the long term
By applying a few key property management principles to your community you can increase property value.
Key principles to include in every community to reflect a well cared for space are:
- Cleanliness and Uniformity
- Enforced Rules and Regulations
- Respect and Safety of Residents
- Shared Responsibility
- Active Board Association
- Strategic Plan
Apart from these principles, general property care should be implemented. Regular maintenance across the property is necessary.
Property care to increase property value should include:
- Landscape– This should include a design scheme, and regular maintenance like grass cutting, bush or shrub trimming, branch or frond removal.
- Pleasant architectural presentation– Try applying simple modern updates like metal address numbers, matching railings, mailboxes and lighting fixtures. Simple thematic elements across the neighborhood tie the community together.
- Painting– Agree on a color palette and the tones that are acceptable for various paint needs throughout the neighborhood. Ask neighbors to submit swatches for approval before painting homes. Keep public or shared spaces in neutral tones that are approved in community bylaws.
- Pressure washing– This tedious but necessary task should be done to buildings, homes, townhomes, apartment buildings, condominiums, and rooves. Whether individual homeowners are responsible or the HOA, ensure that proper and regular pressure washing occurs to keep the neighborhood bright and clean.
- Roadway maintenance– roads, sidewalks and parking spaces should always be well maintained. Clear signage and well marked areas create an easy experience for guests and potential home buyers.
- Public spaces – shared amenities like gym’s, clubhouses, or pools, must be cared for and maintained by a property management company, and also the homeowners or residents who use them. Ask neighbors to be respectful of the neighborhood and its shared spaces.
Residents and homeowners also participate in caring for the Association.
A property management team can help achieve the management needs, but residents are at the center of the HOA success. Ultimately, if the neighbors disregard the rules potential homebuyers will see that and choose a more desirable living location.
Things residents and neighbors can do to increase property value
- Take pride in community
- Show respect
- Host community events
- Follow HOA guidelines
Overall, increasing property value and keeping it high depends on the residents and the management of the property, both. Caring for the neighborhood is the best way to increase property value for the long haul.
Grant Property Management can help you run a property with effective physical, administrative, and financial management services AND work towards a strategic goal to increase property value. Click here to learn more.