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.
Governing a homeowners association is no easy task. There are budgets to make, reserve studies to do, laws to understand, meetings to prepare for, and day-to-day tasks to tackle. Below are some helpful resources every HOA board member should know are available to reference.
From time to time it’s a good idea for the HOA board to evaluate the homeowners association by giving it a check-up so to speak. Consider using the performance measures below to be filled out among board members. Take it a step further and send it out to the membership, requesting their anonymous participation. It may give your Board some great insight!
When you’re recruiting members to be part of your HOA board, it’s important to know how to reach them and to be prepared for common push backs you’ll hear when you ask a homeowner to join the Board. But once you find good board members, you don’t want to let them go. So how do you keep them on the Board?
As a recognized homeowners association, your community has a board to help your HOA run smoothly. The board consists of volunteers who execute a wide variety of tasks you may not be aware of; however, their work affects every single resident.
You’re a board member of a lovely homeowner’s association. On most days as you drive through your community you wave at fellow neighbors, share a friendly smile with passersby, and enjoy the neat landscapes and well-kept houses. This particular day seems to be no different. The sun is shining. The birds are singing. You appreciate the peaceful feeling and aesthetically pleasing views you’re coming home to after a long day at work.
But then there’s a fluttering of feathers from the treetops as you turn the corner onto your street. There, at the end of the street, staring back at you is a purple monster of a house. PURPLE. You’re pretty sure it was gray when you left…how did it get to be PURPLE?
While nearly all homeowners associations have some type of policies on the books, many HOA boards have little or no idea what type of insurance they have or need. This can potentially lead to expensive litigation and claims that can cost your association thousands, and sometimes even millions of dollars.
So, your homeowners association is contemplating doing a reserve fund study. Perhaps you are a new HOA and need to establish and start funding the reserves; or, you are an older HOA that has had a reserve for years, but it is time to update it. How many years should your HOA reserve study cover?
Well, it depends. HOA communities vary in size, age and the number and dollar value of the capital assets they own. They choose different maintenance strategies for short-lived and longer-lived capital assets. Let’s explore some of these issues.