Why and How to Draw Millennials into HOA/Condo Associations

McVey: “Younger owners need to get involved in their boards, so they can maintain and protect their investment while establishing a level of harmony in the community.”

CARLSBAD, CA—As Millennials continue to age, buy more homes and increase their purchasing power, residential communities will change to reflect their preferences, so they need to get involved in the running of these communities, FirstService Residential California’s regional director Marisa McVey tells GlobeSt.com. The firm works with HOA and condo-association boards across the country to ensure the board members they work with are prepared to handle their duties, understand the intricacies of budgeting what can sometimes be millions of dollars and know the importance of planning for the future.

As purchasing power begins to shift from the older generation to the Millennial generation, FirstServices believes it will be key for property-management companies and boards to begin attracting younger board members and prepare them to take over these roles. We spoke with McVey about how property management companies and boards can attract younger-generation candidates who are responsible and interested to serve their communities.