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.
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.
The role of an HOA board can be summed up by three different words: to protect, maintain and enhance the Association. What does it mean to protect? It’s to keep someone from harm or injury. In a homeowners association it’s the board members' responsibility to protect the homeowners and community.
Events and information surrounding the Coronavirus continues to change and evolve. While we’re all experiencing challenges to both daily life and business-as-usual, it’s important to take a moment and assess the precautions you can take for your homeowner’s association.
The recommendations below about what actions HOA boards can be taking come from the Adams|Stirling Newsletter:
Within homeowners associations throughout the United States, residents are becoming more aware not only of their community’s surroundings but also of the persons who live in their community.