Investment propertyColor Your HOA World
Did you hear about the homeowner association member who painted his townhouse flamingo pink with dark purple trim? The HOA Board was not amused, filed suit to have it changed, and won the case. But the whole issue may have been avoided with some proactive thinking on the Board"s part, to establish an approved color palette.
An approved color palette takes into consideration architectural design, geographic location, and the demographic make-up of the residents. The goal is to provide acceptable alternatives that most can live with.
Most major paint suppliers offer a free decor consulting service. These consultants will meet with the Board and recommend different color palettes (body and trim combinations) based on what colors are "hot," or popular, in the buyer"s market. Some even offer software which allows the HOA to virtually explore many color combinations on its own buildings simply with a click of a button. Once given the green light, the consultant will produce color boards that can be displayed at the clubhouse, or some other suitable common area location, for the owners" scrutiny.
Every ten years or so, it makes sense for the homeowner association to update the color palette, to keep the property from looking dated. Buyers do pay attention to home fashion trends, so this isn"t just an idle exercise. Having contemporary colors translates into real market value.
The color palette not only keeps the property in step with the times, it helps protect neighbors from wildly garish applications; by setting the ground rules ahead of time. Mr. Purple aside, most owners want to do the right thing and will honor the Board"s standard, especially if it has been generated by an "expert" (insider tip: As a general rule, the Board should take advantage of consultants whenever expensive, or controversial, renovation is done. Members are much more likely to accept the recommendations of a "professional" than the Board"s. This technique takes the Board out of the HOA snipers" crosshairs).
So color your HOA world wisely, for value, livability, and community harmony. Communicate the standards ahead of time, use expert consultants, poll the members, and enjoy the artful results.