Wednesday, March 17, 2010
by Broderick Perkins
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Deadline Newsroom - Only 12 percent of community and homeowners association (HOA) residents expressed some level of discontent with their communities, according to recently released research commissioned by Community Associations Institute (CAI).
The vast majority, 71 percent, said they are satisfied with HOA life, and 17 percent said they were neither satisfied nor dissatisfied with their communities.
For the 60 million people who live in the nation's 350,000 HOA communities, buying a home in an HOA community is a lot like buying a share in a closely held, publicly traded real estate holding company, governed by an ever-changing regulatory system and managed by volunteers -- the neighbors.
HOAs have seen their share of shoddy construction leading to nasty building defect litigation as well as poor management and disgruntled residents, but most residents are quite satisfied with how they operate.
"Americans have weathered difficult times, and that would normally create more negative views toward most institutions," Lincoln Hobbs, a member of CAI's College of Community Association Lawyers and president of CAI's affiliate Foundation for Community Association Research, said in a statement.
"That hasn't happened in the case of community associations. That says a lot about the dedication and skill of the vast majority of homeowner volunteers and professionals who govern and manage these communities."
You've got news...news that really hits home, right here: High Marks Given to Homeowners Associations
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Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.
Perkins is also the first Examiner to cover three beats for the Examiner.com news service:
National Offbeat News Examiner
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