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.
Do the residents in your homeowners association take actions to discourage burglars?
Sometimes the slightest door rattle or creek from the wind can put someone on edge. When it comes to home security, anxiousness is understandable because illegal home entries do happen from time to time. As a Board member in your homeowners association, you should make every effort to help residents learn how to maintain a secure environment in your community.
You don’t want to be bored with numbers, spreadsheets, dollars and cents. You already know that’s what a budget is made up of. Instead, what actions are the most important for you to actually do to ensure financial success in your homeowners association? There are a lot of pieces and parts that come into play, but following this advice will help you get started in the right direction of financial health for your community.
As an HOA board member you probably know what a reserve study is and the importance of doing one. Equally important is that having the proper reserves in place will ensure that the long term assets in the Association (roads, roofs, pool, landscape, etc.) will be properly cared for and maintained.
When it comes to the annual budget for your homeowners association, it can feel cumbersome to understand and plan. It can also seem like an overwhelming task because you just don’t have a lot of accounting knowledge.
The budget planning process is a lot of work and a large responsibility for the HOA board to prepare. It’s a complex activity that has to start early so the budget can be finalized and approved prior to the beginning of the new Association fiscal year.
We’ve all heard the term “read the small print before signing on the dotted line” but how often do we really do this? An HOA board will be considering and entering into contracts on a regular basis and it’s not uncommon for otherwise cautious people to become jaded by the terms and conditions and just quickly glance over the documents.
Each and every homeowner’s association should have a reserve fund as part of its budget to plan and prepare for future repairs and maintenance, as well as unanticipated expenses and needs. HOA board members are responsible to make sure a reserve plan is in place for the Association, or at least ask the question about how the Board is planning for the reserves. If the Board is ignoring the reserves altogether, then it needs to actively seek out assistance to make this happen.
Does your HOA board dread the annual meeting because it’s boring, no one shows up, and it seems completely and utterly pointless? If so, your Board is not alone. But it doesn’t have to be this way. In fact, the annual meeting in your homeowners association can actually be – dare we suggest – fun?!
Have you lost your copy of the Association bylaws? Would you like to read minutes from past board meetings? Would you like to read a resolution for background information on a homeowners association policy?
It’s a Wednesday evening in spring. As you walk the few blocks from your home to your monthly HOA board meeting you find yourself smiling at what you see. The sun is setting, giving just enough light for residents to finish walking their dogs. You hear the giggles of kids playing catch in their front yard. The smell of freshly cut grass, coupled with someone barbecuing, is in the air. Amidst the mundane details of budgets, laws, rules, and maintenance waiting for you at your meeting, you're reminded that you are an HOA board member because you value your community. You care about the quality of life in your neighborhood, and making it a safe place for residents.