HOA Trends for 2021

To say that 2020 was unpredictable would be an understatement. Businesses around the world were forced adapt to difficult situations and challenging restrictions. HOAs were no exception: COVID-19 brought unforeseen policy changes, amenity closures, and much more.

 

As we move into 2021, associations are eager to move forward and continue to provide their members with a stable, desirable place to live. Let’s take a look at some of the predicted HOA trends as we transition to the “new normal” in the coming year:

Budgeting

Many HOA budgets have weathered the pandemic and emerged relatively unscathed, while others were not so lucky. Recent data shows that nearly 35% of HOA board members reported a negative impact on their budget due to COVID-19. As boards plan for 2021, it’s likely that we will see a renewed focus on ensuring adequate operating funds and preparation for both short and long-term emergencies.

Technology

Despite its far-reaching impact, the pandemic has done little to slow the advance of technology. With the recent rise in electric cars on the road in the United States, HOA boards have been advised to anticipate an even greater increase in the next few years. To facilitate this growth, we can expect to see many associations researching, budgeting for, and possibly even installing electric charging stations in their communities in 2021.

Board Transparency

2020 was the year of the virtual meeting. Many associations were forced to hold board meetings online rather than in person, and most traditional community events were postponed or canceled to comply with mandates and restrictions. As a result, boards may have found it difficult to maintain full transparency with their members. If this lack of face-to-face communication caused a rift in some board/member relationships, the coming year will see a renewed effort to return to full transparency and restore a greater sense of community.

Registered Sex Offenders

Most state laws require that sex offenders register in the county in which they will live. HOA boards are prohibited from discriminating against a registered sex offender in an effort to prevent them from living in or near the association. However, the board does have the right to notify homeowners of any offenders living within the association.

Fair Housing

The Federal Fair Housing Act prohibits discrimination based on race, religion, sex, national origin, disability, or familial status. Because the last few years have seen an increase in FHA complaints, HOAs must be sure to provide reasonable modifications to buildings or common elements to provide equal access to all residents and avoid legal ramifications.

 

With so many recent changes in operations, HOA boards are showing an increased interest in hiring outside property management services. Association managers are specially trained to help better manage community funds, improve board-member relationships, navigate challenges, and uphold the integrity of the community. At SpectrumAM, we believe in a simple, fresh approach to association management and are eager to help communities have their best year yet. Contact us today!