Bringing new owners into your association is excellent, but keeping them around for years is critical. Owner retention in an HOA can be difficult. Yet, when approached with the correct Board and HOA management team, it can lead to:
+ A more efficient association
+ Even more new owners
+ A more robust Board of Directors
+ Happier homeowners
Your Board should have all of these goals in mind regarding managing the community. If your association needs help with member retention, here are 5 things your Board can do to keep your community full and thriving.
Create HOA Membership Benefits
How your association stands out from the competition directly results in how it retains its members. One of the best ways to stand out is through unique membership benefits.
Everyone wants something special out of their HOA. So, meet with your Board and management team to find out what you can do to make your association unique.
Some of the best association benefits include:
+ Regularly sponsored social events
+ An online portal that simplifies membership
+ Customized communication based on member preference
+ Updated swimming pool and other shared association amenities
Build Actual Relationships With Your Owners
A monthly bill and newsletter aren’t enough to say you’ve put in an effort to get to know your owners. People love when they get extra positive attention. Take some time out of your Board’s schedule to reach out and get to know your constituents.
Simple communication like a personalized birthday message or postcard thanking them for a recent volunteer effort can help your owners feel seen, respected, and eager to live within your association.
Plan Interactive Activities
Activities are one of the cornerstones of a successful association. Planning social gatherings around current association topics like a greener initiative or noise reduction directly involves owner input and building rapport.
If your owners feel like they’ve helped create an initiative, they’ll be more inclined to stay and possibly become future members of the Board itself!
Find Out Why Members Leave
If you’ve experienced a string of members leaving in the past, there is likely an issue on the association’s end you need to address. While you may be unable to reach out to former members, you can still survey current members and learn where you can improve.
Getting answers now and resolving issues as soon as possible helps you maintain expectations and keep your community’s population high.
Ask Property Management About Membership Management Software
Membership management software is an excellent way to simplify overall management through technology. Management software keeps your efforts organized, helps track owner activity, and makes event creation and promotion easier.
Goodwin & Company can help you use management software to create an online portal that eases your management burdens and lets you focus on immediate improvements that keep your members happy.
Start Your Retention Journey Today, With Goodwin & Company
If your association is on a growth trajectory or has had past troubles with owner retention, it’s time to put your membership in the hands of professionals. At Goodwin & Company, we’ve helped associations of all sizes earn new owners, keep them, and grow a thriving community over the years.
Let our management professionals help you create an attractive association. Contact us today to learn more about becoming a member of the Goodwin family!