Who doesn’t want to see the value of a property increase? By now, you probably have heard so much about how much easier it is to sell, let alone attract the best residents to your community. After all, that’s also the point of having an HOA around to ensure the area is one where people can thrive. To be able to invest wisely in the value of these properties, you must uphold the highest standards possible and not miss any details, no matter how small.
Are you wondering about how else you can improve the value of these properties and the community itself? In this post, we’ll explore several strategies you can use to achieve your goals. It will involve working with your local general contractor for many of these measures, although you can start planning now to make these arrangements possible. Here are the top 5 ways you can boost your property managed community’s value and attract the homebuyers you want. Hopefully, you’ll have a better idea of what areas to watch out for and when it’s time to call in for help.
1. Add New Amenities and Maintain Them
People are attracted to property managed communities and HOAs primarily because of the amenities available. Who doesn’t like to go swimming in the pool every summer? How about that clubhouse and playground where children can play in? In any case, you’ll have no trouble making your community more appealing to prospective buyers by investing in more amenities.
If your neighborhood already has the clubhouse and pool there but could use some renovations and updates, then you should consult with your local general contractor on a plan to revitalize them. Any general contractor with the right crew and combined years of experience should be able to give you a reasonable quote on how much the project will cost and the expected time until completion. They should also be able to provide you with timely updates every other week on how the projects are going. Remember, this is your investment, and you’re doing this because you want to keep your community sustainable for years to come.
2. Keep Your Exterior in Check
Residents expect the outside of their buildings to be in good condition. Pay attention to all the plants and trees and work with landscapers and other contractors to regularly mow the lawns to keep weeds from ruining your community’s aesthetics and appeal. Even encourage them to plant new flowers to add more of an inviting, vibrant look to impress potential buyers. Consider exterior painting to keep your fences looking brand new without needing to replace them right away. Just be sure you do your research on all the local contractors in the Metro Atlanta area who might be able to help here.
3. Create Rules & Guidelines and Enforce Them
Each member of your HOA or property managed community needs to understand you have rules and boundaries. It’s great to have contractors who are skilled in meeting your community’s needs, but ultimately, you also need consistency and a collective effort from residents and neighbors for this to run smoothly. They must know what the expectations are and what they are responsible for.
Then, you need to monitor the neighborhood periodically to keep them accountable as well. It’s not very likely you’re going to see someone leave their junk outside for weeks at a time. It’s also easier to enforce these guidelines when a good example is set for the rest of the community to follow. Be fair and reasonable whenever you find someone violating the rules, and educate them on why they need to do their part of maintaining their building.
4. Host Fun Events & Parties
Part of a community’s value comes from how happy people are to live there. Have you been doing enough to coordinate local yard sales, parties, picnics, barbeques, and other fun activities to make people feel proud? You’re creating a stronger, friendlier community by having enough opportunities for your residents to bond with one another. Interested buyers will take notice and want to get in on the action too. It’s a cycle leading to new residents and existing ones willing to uphold your rules and guidelines also. Don’t take these events for granted, and always put yourself in the perspective of someone who’s been living in your community for a while.
5. Keep Properties Energy Efficient
Another way you can improve the value of your property managed community is to find the best ways to keep energy costs down. For example, having new windows and doors installed better regulates the room temperature of these properties, reducing the need to have the air conditioning on continuously during the summer. Upgrading the insulation and getting new window shades also contribute to lowering energy bills for residents considerably.
Don’t overlook these five simple measures to have your community’s value be where you want it to be. You can have the vibrant community you’ve always wanted with a bit of planning and effort on your part. We also encourage you to perform your due diligence and find the best contractors you can find to help you implement many of these measures. Thankfully, there’s a local Atlanta general contractor ready to meet these needs.
At P3 Painting & Renovations, you can reach out to our team and start taking your community to the next level, having worked on many renovation, pressure washing, painting, and carpentry projects for property managed communities and HOAs. Call us today at 770-271-6868 today for more information! Thank you for choosing P3 for your next project. We’ll see you soon.