How is your homeowner's association doing? Is everything running easily and smoothly? Do you have interested members at each HOA board meeting? Is your reserve fund fully funded? What would you do if you were faced with a lawsuit or an unexpected project? If you answered no to any of these questions or don’t know the answer at all, below are 5 reasons you should consider hiring an HOA manager this year.
As an HOA board member you're faced with issues in your homeowner’s association day in and day out. Sometimes you have questions that you don’t know the answer to or scenarios where you aren’t sure how to respond. Odds are, other board members are in the same boat. We’ve compiled some questions we’ve recently received and provided expert answers from an HOA manager. Read them below and maybe you’ll be able to relate.
There seems to be one in every homeowners association. That one HOA board member that consistently disagrees, goes against the majority, or at the very least enjoys playing devil’s advocate. Do you have a Scrooge – a mean spirited, miserly person – on your Board? There are ways you can deal with them.
Neighbor to neighbor complaints can come in many forms. For example, the dog barks all day, the smoke from my neighbors barbecue stinks, the neighbor cooks fish and reeks up the place, my neighbor smokes and it comes into my home, my neighbor plays his music all night or the TV is on all day.
An important role of a homeowners association is to maintain and enhance property values by enforcing neighborhood covenants and maintenance of common areas. For this to happen the Association must have a strong Board of Directors and each person who sits on the Board must perform their job. This will also help homeowners find value being a part of the Association community.
The New Year is just around the corner. As an HOA board, this may be a good time to consider making resolutions that will help to make it a great year for your homeowners association. These commitments don't have to be profound and they are generally things you should be doing anyway, but it's always good to go back and review things while keeping an eye out for what might be coming your way.
Reserve funds are not an extra expense. They are part of the ongoing expenses of the homeowners association which occur at various points in time. The plan provided by your reserve fund specialist will help you in this process. It's much more preferable that homeowners associations have a plan to set the funds aside now, on a year-by-year basis. By doing this, the Association can spread out the collection of assessments for these expenses more evenly over the coming years.
There are other important reasons that Association monies should be put into reserves every month:
When you think of staying safe in your neighborhood, what comes to mind? You probably lock your doors at night, keep a porch light on, communicate with neighbors if something or someone seems suspicious, maybe even have a guard dog to alert you of anything out of the ordinary. Generally, safety in a neighborhood means lighted streets, low crime, kids at play signs, a neighborhood watch, or even a security patrol. Safety in a homeowners association neighborhood isn’t all that different, but with recent budget cuts to public safety departments and less enforcement, proactive safety is crucial.
During the holiday season many homeowners association members plan festivities with friends and loved ones. With all of the merriment that’s sure to ensue, it’s important that the HOA board reminds residents who are hosting celebrations to not only be considerate of their neighbors, but also take note of the Association’s rules.
Does providing security measures, such as cameras, security guards or security companies, make the association liable for security breaches that cause harm to others? Is there a price for your safety? Many homeowner’s associations hire private security patrol or contract with the city they live in.