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.
As a general practice, what does an HOA board do if there’s a problem in the association that exists right now, but not enough money in the reserves to fix it? Is issuing a special assessment the way to go, or can the board use other funds in the reserves?Read More >>
During the holiday season many homeowners association members plan festivities with friends and loved ones. With all of the merriment that’s sure to ensue, it’s important that the HOA board reminds residents who are hosting celebrations to not only be considerate of their neighbors, but also take note of the Association’s rules.
There are differing viewpoints when it comes to percentage funding of the reserves. Just going on percent funded can be misleading because that number fluctuates over time and is different for each homeowner’s association.Read More >>
Picture yourself in this scenario: The clubhouse needs a new water heater and it will cost $10,000. But all prior reserve studies that have been done in the association have only allocated $6,000 for replacement. What are the board’s options to make up the additional $4,000 difference?Read More >>
Halloween is a kid’s delight. It’s a blast to dress up in costumes, go trick-or-treating, attend parties and most of all, eat a lot of candy. At the same time, Halloween can be scary for parents. Costumes can be dangerous, too much candy can be sickening and walking around at night can be risky, even in your homeowners association community.Read More >>
Community association board members and managers might not immediately think of customer service as one of their priorities, but they should. Customer Service is typically associated with the retail industry, but it’s an integral function of any organization. The need for excellent services is just as vital to an association’s success as it is to a business that sells goods and services.Read More >>
Short term rentals have become a hot-button issue in HOA communities. More and more homeowners are choosing to rent their homes through sites such as Airbnb or VRBO as a convenient, low-cost way to earn additional income; however, the popularity of short-term rentals is raising concerns in associations and even opening them up to liabilities.Read More >>
Preparing next year's budget for your homeowners is one of the most important undertakings for the HOA board. Fiduciary responsibility is something you pledged to look after for your community and this is an area where that really comes into play. There are a few things the Board should consider for next year's Association budget.Read More >>
The purpose of the reserve fund is to plan for future repairs and replacements in the association. But what about components that you can’t see and aren’t listed in the reserve study? For example, plumbing supply lines that aren’t included in the reserve study and will end up costing somewhere in the ballpark of $50,000 to repair or replace.Read More >>