The Wealth of Homeowners Association aka property values, is analogous to the Wealth of Nations. Branding is a simplistic way of viewing it: Compare the cost of a Starbucks cup of coffee, to a cup of generic one, for instance. Refer to Power Point presentation
The better the HOA branding, the higher the property values: NeighborhoodScout's® Exclusive Home Appreciation Rates.show both the cumulative appreciation rate, and the average annual appreciation rate for each time period (e.g., last 5-years: 84% total appreciation, Avg. per year: 16.8%). In a gated community, the homeowners and the local governance have total control. Non-gated communities require cooperation with adjacent HOAs and or homeowners
Key elements of HOA branding are:
Public safety, Repair, Replace and Maintain (RR&M) common areas, standardized architectural policy and trust in local governance.
Homeowners' associations in Washington are governed by the WUCIOA. This act applies to all common interest communities, including planned developments and condominiums. It was enacted in 2018 and outlines the regulations for the development, operations, and management of such organizations
A homeowners' association (HOA) is an entity created to form, maintain, and enforce certain reasonable rules and regulations in common interest communities to maintain the value of the properties in the neighborhood, community, or apartment complex.
They might restrict the colors homeowners may use on external walls to maintain the aesthetic appearance of the neighborhood or limit the types of fencing that may be installed to ensure uniformity throughout all units.
HOAs also enforce certain architectural guidelines and landscaping rules to maintain property values and are responsible for maintaining shared spaces, such as clubhouses, swimming pools, parks, and more
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