Many people view homeowners associations as safe havens from the world of stressful urban living. Homeowners enjoy the convenience of having everything they need on their homeowners association website, as well as security from crime and natural disasters with their local property managers.
Yet, that comfort can be taken away in a heartbeat if you are careless. Homeowners should consider these four HOA trends that may become more prevalent in 2023 before they get too comfortable.
Communication Is On The Rise
Communication skills now are not just limited to speech; they cover a huge range of mediums, such as writing emails, text messages, and social media that you can highlight on the homeowners association website. This trend is expected to dominate well into the future as we see many different types of communication spread at an increasingly faster rate in 2023.
An Increase In Disputes
Disputes about homeowners associations have existed for decades, but the frequency of these disputes is expected to increase in 2023. The biggest reason for this is that there will be several topics discussed at meetings which opens up more room for disagreements. Other than disputes among homeowners, HOAs may also face more legal issues involving neighboring properties.
Expenses & Completion Times
HOA boards are expected to face increased scrutiny over higher costs regarding labor, landscaping, repair and maintenance, and slower completion times in 2023. Part of this is due to the new requirements imposed by HOAs as a result of newly implemented restrictions on lawn care services, restrictions that previously were only imposed on landscaping. Homeowners should be aware of these industry trends as they relate to their own HOA situation.
In 2023, it is predicted that homeowners will see an increase in the number of HOAs. The reason being that developers generate large profits by renting their houses and homeowners benefit from living in such areas since their homes maintain a higher resale value compared to those that are not controlled by associations.
While many homeowners are keenly aware of any changes their HOA passes, others may not be as interested. This can lead to clashes among neighbors, particularly over matters that have been discussed at meetings. It is critical for all homeowners in HOAs to stay informed about current issues and come up with resolutions in advance to avoid things changing for the worse later on.