An estimated 69 million people choose to live in managed communities in the United States, and for British Columbia, Canada, that number is more than one million. According to Community Associations Institute, those numbers have only grown since 1970 when only 2 million U.S. residents chose to live in a managed community. In addition to the fact that the number of managed communities have increased, a recent study published by the Foundation for Community Associations shows that homeowners are finding value in community living and choosing it more often as a result.
Independent research firm Zogby Analytics conducted the survey of real homeowners living in HOAs and condominiums. 87 percent of respondents rated their overall community association living experience as positive or neutral, and 84 percent said that their board members “absolutely” or “for the most part” strive to serve the best interests of the community. In addition to these benefits, here are more reasons people live in managed communities.
Increased Home Values
“The benefit of living in a managed community is that you have a partner in maintaining the community and your home’s value,” said Bruce Heckman, general manager for Veer Towers in Las Vegas. And the data agree: homes in managed communities are worth at least 5 percent more than homes in traditional communities. The rules and regulations created and enforced in community associations work double-duty by protecting property values from negative impact and enhancing property values with positive actions. With this approach, the common good of the entire community is preserved.
Sense of Community
As society has become increasingly transient, the sense of community that was once felt in neighborhoods across the nation has declined – but not in community associations. “The residents in a community have a greater sense of purpose outside of themselves due to the interworking of the social and legal aspects, connectivity of the buildings, infrastructure, shared common areas and overall economic benefits that each community provides,” said community manager Michael Davis. “One can become a volunteer for various activities or just enjoy the amenities the community offers.”
Through boards of directors, managed communities give homeowners a dedicated entity to work with when they want to see change – a significant benefit considering that homeowners in traditional communities don’t have many options for settling a dispute with a neighbor or implementing an idea that would improve the neighborhood. “One of the best things about living in a managed community is peace of mind,” said community director Gloria Arteaga. “Peace of mind knowing that you aren’t the only one working to keep your home values up and knowing that there is always someone to go to when you need help resolving an issue.” Board members help homeowners find common solutions for disagreements, and the association itself provides organized procedures for proposing ideas along with the resources to execute them.
In short, living in a managed community gives homeowners the opportunity to achieve the vision of their optimal living experience.
Watch the video where Bruce, Michael, Gloria, featured in this article, and other professionals tell us why their clients choose managed communities.