Did you know that about 26% of the US population lives in a homeowner's association? HOAs are integral for keeping a community running, but how can you make sure you're serving yours as well as possible?
One of the best ways is to familiarize yourself with the ins and outs of HOA management. Good management will keep your HOA community running smoothly, handle any upcoming issues, and ensure the safety of your community.
If you're curious about practicing good management with your HOA board, we're here to help. Read on to learn some of the most essential practices for a successful homeowner's association.
Hire Professionals
Your first step is to hire professionals. Some HOA board committees believe it's best to handle everything hands-on. While this is admirable, it can lead to things falling between the cracks.
An HOA board is generally made of volunteers and community members. As such, it's not likely that your HOA manager or the board has all of the necessary skills.
Instead, look into third-party management groups that can help handle your HOA management. Here in Phoneix, we're proud to offer association management to help your team work at their full potential.
Manage Funds
Another critical step to successfully managing your HOA is to keep track of your funds. Your HOA will use funds to help better the community through projects and upkeep.
Funds are often used to hire professionals, install new commodities, or upgrade existing facilities. If you don't keep track of funds, you may run over budget or expend your funds.
Consider putting some HOA board members in charge of funds as treasurers. Ensure there are checks to avoid any misuse of the funds.
Stay Transparent and Communicate
As an HOA manager, you'll make choices that affect your whole community. Due to this, it's critical that you communicate those choices with the community.
Your community will quickly become unhappy if you're making unannounced or sudden changes. These changes are much less popular if the community is given no choice in them.
Communicate changes and give your community a choice or the chance to vote. Otherwise, you may find your community unhappy with your management choices.
Focus On Organization
Finally, you should always keep organization at the forefront of your management qualities.
During meetings, designate a board member to take notes and keep track of the meeting. These notes should include the discussion, any decisions made, and even transcripts.
Schedule any meetings and announce them to the community if they're open to non-HOA individuals. Additionally, always make sure the community calendar is up to date and includes any upcoming events.
Handling HOA Management
HOA management can feel overwhelming, but good management is critical to a healthy and happy community. Focus on what positive management qualities can help elevate your HOA board and highlight cooperation. Always put your community at the forefront of the discussion.
Interested in learning more about how an effective third-party management team can improve your HOA community? Contact us to see how we can help improve your operations.
