Of the 370,000 HOAs in the country, only a handful of them are run properly.
An HOA board can make or break an HOA community. HOA board members wield a lot of power, but that's not always a good thing if they don't have the experience or expertise for the job. These are often volunteer homeowners handling important community tasks in their free time.
To understand the quality of your HOA board, you need to know what their responsibilities are. Today, we'll go over the main HOA board responsibilities to bring some clarity to your community association. Keep reading, and you'll understand what a good HOA should look like.
Looking After HOA Finances
When someone buys an HOA property, they opt-in to the perks of HOA living. To enjoy those perks, however, they pay monthly HOA fees. No HOA member should ever wonder where their HOA fees are going.
For an HOA to be properly run, it needs to have smart budgeting and accounting. Your HOA board should have a treasurer who looks after the community's finances. This person makes sure that there's enough money to pay vendors and invest in community improvements.
A telltale sign of poor money management is constantly increasing HOA fees. It's always important that you have a detailed rundown of where your money goes and why.
Taking Care of Community Maintenance
Community association members expect well-maintained common areas. Things like landscaping, roads, and community amenities need to be looked after regularly. The board is responsible for coordinating with different local vendors to ensure this happens.
HOA amenities and common areas have a direct effect on the quality of life in the community. They also affect every HOA home value, so a board that fails to maintain the community is harming your home's worth. If maintenance isn't happening, you need to consider HOA management.
Enforcing Rules and Regulations
Another thing HOA homeowners expect is uniform standards of living. This is held together by the HOA rules and regulations, which all homeowners must abide by. Whenever you gather dozens of homeowners under one set of rules, however, you're going to have rule breakers.
There's always someone who doesn't feel that the rules apply to them. HOA board members are responsible for enforcing regulations to help maintain harmony in the community as a whole.
Guiding Community Meetings
Annual HOA meetings and HOA board meetings decide on big-picture and day-to-day plans, respectively. The board should be able to guide community meetings so that every homeowner feels heard. During board meetings, board members need to come up with plans to enact the community's wishes.
You need good leadership for HOA meetings to be effective. If you feel that meetings aren't operating effectively, it could be time for a change.
How HOA Management Can Help Your HOA Board
Is your HOA board helping your community association thrive or is it holding the community back?
If you aren't confident in your HOA board, turning to association management is a great idea. HOA property managers work with your HOA board to keep your community on the right track.
PMI Integrity Properties is Baton Rouge's top option for association management. To learn more about our services, don't hesitate to contact us today.