How is your homeowners association holding up? Do you have buildings in need of repair? Has the HOA board set aside funds for inevitable future repairs? If you don’t know the answer to these questions, then it’s time to find out. Why? Because it’s the Board’s job to protect and maintain the association and keep it safe. Sometimes, the safety of lives is even at stake. You don’t want to wait for something bad to happen before taking action, like one homeowners association did in Florida. Read more in the article excerpt below.
You ran for the board on the platform of remodeling the clubhouse that has become outdated. What you haven’t shared with the members of the association is that your daughter is getting married next year and the clubhouse would be the perfect place for a reception.
Many homeowners associations operate on the fiscal year (July through June). If your Association is one of them then hopefully you have your new and improved budget ready to go because July is just around the corner.
As an HOA board member you probably know the basics of HOA accounting, and that the process is reversed from the typical American’s household budget.
Everyone wants a safe place to call home, and your homeowners association should strive to make all residents feel secure. While the HOA board is diligent in its efforts to reduce possible dangers in your community, it can't do it alone. It's up to everyone to pitch in to keep crime rates down. Thankfully, taking a few simple steps can go a long way in keeping theft, vandalism and other felonies and misdemeanors out of the Association.
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.
You’ve been the treasurer of your homeowners association for 8 years, and have continually warned your fellow HOA board members that without saving for reserves they’ll be headed for real trouble - and now that day has come.
You’ve been elected as Board President and face two large special assessments back to back within the next two years. There’s no way around them. The pavilion, signs, tennis courts and other assets are all shabby, outdated and on the verge of becoming hazards. These projects must be done for safety reasons. Not to mention they make the Association look like an uninviting place to live.
One of the benefits of living in a homeowners association is having access to common areas and certain maintenance responsibilities covered for you as part of the HOA fees you pay to live in the Association. Do homeowners in your Association know the maintenance items they’re responsible for and the items the Association is responsible for?
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.
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.