It is easy for Board members and owners to forget that their community is a business, the homes a product of the business and that the value of the homes in the community can be affected not just by paying or not paying to maintain it, but what the neighborhood is like. Experts say that most people buy from an emotional perspective. This is why the environment of a community is so often a factor when buying a home. Buyers want to like their community, no matter if their community is a series of single family homes, attached homes or condominiums. This is one of the reasons it is so important to help build a strong and positive community - it helps owners market and sell their homes. It attracts the kind of neighbors you want in your community.
When criticism grows and people are careless with the tone and content of their complaints, the word gets out that the community is full of "negativity" or "poorly run". It gets out through realtors, rental agents, employees and contractors - and the residents themselves as they chat with their friends and co-workers. Before you know it, the community that, for all intents and purposes is well run and well funded, is not popular on the real estate sales and rental market. Why? Because buyers and residents want to like their neighbors. They want to come home to a peaceful environment, not the home of the Hatfields and McCoys. So, they move on and search for a place they find more peaceful.
The most common target for inappropriate and often unnecessary criticism is the board of directors. Unpopular decisions that must be made (like an increase in maintenance fees) is often the catalyst that evokes calls from owners, who are so un-thoughtful in their communication about the Board or the manager, that it is hard to believe they live next door or down the street from the people to whom they are referring. While it is understandable to be concerned with the operation of the community, it is also interesting that all the hard work expended by the board to create the budget and foster a spirit of harmony can be negated by a few harsh words. Words that can be personal and very negative, probably because our emotions are attached to the value of our homes and we forget it is also a business investment.
So, how do we take the emotion out and focus on the business? We have found that education, shared experience and communication help. Owners are often not aware of the time and research that goes into the business decisions the board must make. The board and manager have gone to great lengths to explore all options before deciding on rule changes or the increase in fees or changes to a budget. Concerned owners who wish to contribute to the value of their community should take the time to educate themselves first and then offer constructive input thereafter. Your manager is always there to help the owners understand the particulars of a problem or decision.
If we all remember that our communities are also businesses and that our home is a "product" of business, it's easy to see that a friendly, business-like approach contributes to the successful "product". Help to improve your home's value by improving your community's reputation. That becomes a selling point from which the entire community benefits.
Sentry Management
