HOA KPIs That Actually Matter
Running an HOA means juggling finances, maintenance, and homeowner satisfaction—all at once. With so much going on, how do you know what’s working and what’s not?
That’s where KPIs (Key Performance Indicators) come in.
So what are KPI’s?
Think of KPIs as your HOA’s vital signs. Instead of reacting to problems, you can plan ahead using real data. And no, you don’t need fancy software. A simple spreadsheet and clear goals are enough to get started.
Feeling overwhelmed? You don’t need to measure every KPI, and we are here to simplify this topic for you.
Start by choosing a few that align with your current goals. Then check them regularly. It’s not about one-time numbers, it’s about trends. The more visibility you have, the easier it is to keep your community running smoothly.
For a simpler visual overview, see below:
Key Definitions that might help:
Net Operating Income (NOI): The amount of money left after covering operating expenses. It shows whether the HOA is living within its means.
Budget Variance: The difference between budgeted and actual spending. It highlights areas where the HOA is over or under budget.
Delinquency Rate: The percentage of homeowners behind on dues. A high rate can hurt cash flow and reserve contributions.
Work Order Completion Time: The average time it takes to finish maintenance requests. It helps track service efficiency.
Homeowner Satisfaction: A measure of how residents feel about the board’s communication and responsiveness. These are often based on surveys, complaints, or email response times.
Vendor Performance: Tracks how reliable and effective vendors are. Poor performance may signal it’s time to find new providers.
Trend Tracking: Looking at patterns over time (not just one-time numbers) to make better decisions and anticipate issues early.
