HOA Management Blog
You’re the President of the HOA board in your community and you’re wise enough to know that you’re in way over your head - but you like a challenge and you’re ready to meet it head on. You’ve read your governing documents and know how to keep a basic balance sheet, but that doesn’t mean you understand the CC&Rs or know the difference between the operating and reserve budgets.
If you have renters in your community, they are an important part of your homeowners association, and welcoming them could create a more positive environment.
Sending a welcome letter, email or even a phone call from an HOA board member are all great ways that make a lasting impression and open the lines of communication.
How well a homeowners association functions is directly related to how well HOA board members fulfill their roles on the board. If each person understands the responsibilities of their position, and executes well, then the Association will run like a well-oiled machine.
We all know how important it is to try and consider taking a green approach in our daily routines. What if you could go green while also helping the community in your homeowners association? Residents can help their homeowners association minimize its maintenance expenses, which can also avoid HOA fees from increasing, by observing a few simple green considerations.
There are differing viewpoints when it comes to percentage funding of the reserves. Just going on percent funded can be misleading because that number fluctuates over time and is different for each homeowner’s association.
The purpose of the reserve fund is to plan for future repairs and replacements in the association. But what about components that you can’t see and aren’t listed in the reserve study? For example, plumbing supply lines that aren’t included in the reserve study and will end up costing somewhere in the ballpark of $50,000 to repair or replace.
It’s always convenient to have some tools in your tool belt – you never know when you might need one. Instead of a hammer, nails, screwdriver and measuring tape, there are tools that are handy for an HOA board to have access to - because you never know when you might need to refer to them.
The most important thing a Board needs to know is that it cannot give away the authority to make decisions. The manager is an integral part of a homeowners association, but there are some things the HOA board is ultimately responsible for and can’t delegate to a manager.
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Do you want to be the best board member you can be? Then you’ve found a goldmine because we asked a seasoned and experienced HOA manager what he hoped all HOA board members would learn early on to help them run an efficient, lawful, and successful homeowners association.
If you’re a new Board Member for your homeowners association, or you’re considering whether or not to become one, it’s important to understand how an HOA is governed, and who the Board is accountable to. A well-governed HOA will not only know what entity has the governing authority over another, but will also listen to feedback from the residents in the association when it comes to how the association is being run.
