Leading Problems in the HOA Industry
When tenants and homeowners move, they don’t always tell you why, so how are you supposed to fix the problem for future residents? Luckily, a marketing research firm has surveyed residents and determined the biggest complaints they had, and the reasons they left.
J Turner Research surveyed 10,000 US apartment residents to determine what was the biggest complaint and reason for moving. The answer: rental rates. Regardless of state, people complained about the cost of rent twice as often as people complained about pet waste and three times more than noise. Rental prices started to increase in 2000, but unlike home prices, they didn’t take a hit during the recession. They continue to rise faster than home prices, making it difficult for many tenants to afford nice apartments in good neighborhoods.
Besides determining the number one complaint, the survey determined the other leading nine complaints of apartment renters. They are, in order:
- Poor grounds and unkempt common areas
- Disorganized staff and lack of communication
- Quality of responses to maintenance requests
- Overall customer service of management staff
- Quality of parking and parking availability
- Concerns of security and safety
- Lack of upgraded amenities
- Pet problems, such as pets not on leashes and pet waste
- Lack of preventative maintenance
While not all of the complaints are similar, many of them seem to revolve around lack of proper management of the property. The property manager is failing to maintain the apartment complex and grounds and the customer service is poor.
What You Can Do
Unfortunately, you probably can’t fix the biggest problem: the rent. However, you can make residents more inclined to pay a higher rent by fixing the other issues, especially the management issues. With a well-maintained apartment and grounds that have upgraded amenities, people are more willing to pay higher rents. Also, ensure the staff respond to all tenant complaints and issues in a reasonable time frame, and if possible, do something to correct the complaints.
With this list of common complaints, you can improve your community. You can’t make everyone happy, and there are sure to be a few tenants who still gripe about the rent. However, if you give residents a pleasant place to live by properly managing the property, most of them are willing to pay higher prices.
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