Commissioned study shows community associations more likely to change property management companies in 2011, and internet searches will drive process.

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) August 19, 2010 -- Community association property management directory website HOAManagement.com recently commissioned a study of 658 community associations across the country. The study was conducted between May 15, 2010 and June 15, 2010 and geographically represented 36 unique states. HOA and condominium board members were asked a series of questions regarding their selection of a community association management company.

Details of associations that participated

The average community that participated in the study had an average of 240 units of various types. The smallest association had 53 units. The largest association had 1280 units. 42% of associations surveyed were identified as single family. 32% were identified as condominium or town home. 26% were identified as a mix of single family and condo/townhome or patio home.

Of the associations studied 78% were identified as completed associations with no new home sales still existing. The remaining associations were identified as partially completed with some new home sales still pending.

Of the associations studied the average dues were as follows: Those communities identified as single family were $58.29 per month. The average dues for those identified as condominium and/or townhome were $186.63 per month. The average dues for mixed communities was $69.12.

64% of those community associations that participated in this survey identified themselves as having a pool. 78% of those community associations that participated identified that they offered other amenities including:

 Parking
 Covered parking
 Garage parking
 Tennis courts
 Basketball courts
 Picnic areas
 Walking trails
 Biking trails
 Playgrounds
 Club house, or community centers

A few results from the study of associations that participated

What sources are you most likely to use when selecting property management companies to consider for your community association?
 65% Internet search
 12% Word of mouth
 9% Industry organizations (e.g., CAI)

 7% Business organizations (e.g., BBB, Chamber of Commerce)
 5% Other
 2% Phonebook

What criteria does your association use to select an association property management company?
 38% Price/Contract terms
 17% Breadth of service options
 14% Experience
 11% Staff
 8% Similar sized type communities under management
 7% Education
 4% Location
 1% Other

How likely are you to consider new community association property management in 2011?
 44% Yes
 39% No
 17% Undecided

For your community association, what is the biggest challenge you will face in 2011?
 52% Financial/Collections/Budgetary constraints
 16% Pending foreclosures
 14% Improve community management
 10% Maintaining property values
 6% Special assessments
 2% Community involvement

If you were to rate your current community association property management company on a scale of 1 to 10 - 1 being the lowest, 10 being the highest - what score would you give that company?
 15% 1 to 3
 14% 4 to 5
 51% 6 to 7
 20% 8 to 10

Based on feedback from those that participated it is clear that both homeowner associations and condominium associations will more than likely consider a change from their current property management company during 2011. It is also clear that most will use the internet to research and locate quality association property management companies in their area.

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