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.Read More >>
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. In an HOA, first expenses are estimated and then the source of revenue is determined, mostly in the form of HOA fees. Check out the article below to make sure that your budget contains all of the basic components to keep your homeowners running smoothly.Read More >>
Breaking up is hard to do. After evaluating an HOA manager, a Board may decide it would like to change managers, change to a different management company, or it just doesn’t need the services of a manager at all any longer. Before parting ways the Board should ask: are we willing to sacrifice service and take on more responsibility?Read More >>
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 your efforts to reduce possible dangers in your community, you cannot do it alone. It is 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.Read More >>
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.Read More >>
There are many different ways to keep the members in your homeowners association safe. If your Association attracts a significant number of senior adults, or you know of specific residents in your Association who suffer from dementia, you can help by having a plan in place to protect them in the event they are confused and wander off.Read More >>
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 and 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.
The last time that you attended the HOA board meeting for your homeowners association the current board asked you and everyone present to consider volunteering for the board. These are the thoughts that went through your mind:
As an HOA board member, you should know what homeowners association documents your members are entitled to review. Association members are welcome to read official association documents. There’s nothing secret about the business of the association. In fact, you should already have copies of key documents like the bylaws or rules readily available.
Now is a good time to set a date for your annual HOA board meeting if you haven’t already done so. Annual meetings are a common best practice to keep members informed and get them involved. You may be thinking that it’s going to be a waste of time because the majority of members don’t come to any meetings. There’s no doubt that this is one of the most challenging parts of planning the meeting, but there are ways to encourage members to attend.