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Facebook Groups and Pages are much easier to setup, but also harder to moderate…just part of the nature of social media today. And the larger your association, the more “noise” you’re going to get in the comments.
There are several great options available for setting up a website, and is probably going to be the *best* way to keep members updated and give the board better control. It also prevents a rogue board member from taking over the FB Group or Page if they’re a moderator.
If you’re a smaller association (less than 150 homes) and have a board that gets along well, FB should be fine (it’s also free!)
If you have a larger community, I’d recommend leaving FB for the snarky folks with nothing better to do and the “free porch pickup posts” and keep the official communication via website and email distributions if the HOA can budget for it.