HOA Mission Statement

I am finalizing our HOA's new adopted community rules. Since Realtors and lenders often like to see the association's governing documents, I want to include a mission statement at the top of the adopted rules so that the potential buyer knows that the association is serious about attracting "the best of the best". This is critical right now because chronic apathy has run rampant throughout the community and we're headed into dark times unless we can start attracting buyers who appreciate an association that actually cares about protecting everyone's collective investment.

Do any of you have mission statements in your documents or anything that summarizes the intentions of the association? If so, what's a great way to turn away potential buyers whose primary concern above all else is paying a low monthly fee?

No.

and

You should not discourage a sale - period.

Y'all are NOT the monitors of anything except the common elements.

I see nothing wrong with putting together a brief informal description of what your community as a whole wishes to try and maintain a great, friendly and well maintained environment. I actually think it's a good idea to put together something like that to make a friendly impression on potential buyers if you have the resources to create something like that and distribute it to the realtors and lenders. It may help a potential buyer choose your community IMO.

How did you get the brochure into the hands of the potential buyers Melissa? I'm just curious because in associations that I have lived in at times the HOA did contact the realtor and provide information to them. I realize it's not required, but they chose do do so.

All -

The wording wouldn't be crafted in any way that actually says "we don't want this type of resident". Instead, focus would be placed on points such as how continued investment and upkeep in the community helps maintain property values. This type of emphasis could serve as a sort of bittering agent to those who are too intimidated by or apathetic toward the amount of effort required to attain that level of preservation within the community.

Besides, HOAs turn away buyers all the time with just their adopted rules alone. Strict pet policies will turn away buyers with yappy dogs and screechy birds. Guidelines that prohibit the recreational use of common water resources will turn away buyers who like to fill up a mini pool for their kids in the summer. Prohibiting the storage of watercraft on common parking will turn away the buyer who is looking for a place that will allow him to park his boat and trailer for free.

Did I use the wrong word somewhere? I probably did. Maybe I said something that made it sound like I was saying that "HOAs increase property values"? I don't know.

What I am saying, however, is that the elected board has quite an impact on the value of property within an association. If the president ignores all of the blown-in debri that has accumulated in bushes, conscious buyers who care wouldn't touch the community with a ten-foot stick. That's what this mission statement is about. It's about the board drafting community rules and also including what is expected of the residents, as well as what's required in order to keep the community in good financial health. The board dictates all association affairs, so the mission statement could change as soon as the next board gets voted in.

At any rate, I think my original question was answered.

Q: Do you any of you have a mission statement for your community?
A: No.

Thanks Melissa,

Actually contacting "every realtor" was not an issue at all in any of the communities I've lived in, because usually there weren't many houses for sale at the same time, (thankfully a good thing as far as property values are concerned.)

(The exception being one where their was still building going on and in that case the declarant and his realtor did a good job informing potential purchasers of what the HOA entailed.)