From time to time it’s a good idea for the HOA board to evaluate the homeowners association by giving it a check-up so to speak. Consider using the performance measures below to be filled out among board members. Take it a step further and send it out to the membership, requesting their anonymous participation. It may give your Board some great insight!
Posted by: HOA-USA.com
Give Your Association a Check Up
Simply score performance of each measure on a scale of one to ten. The results should guide the board and community to adopt measures that encourage improvement in management practices.
- Manages the community according to the governing documents and in accordance with local ordinances, state and federal laws.
- Maintains effective and consistent leadership through proper elections, volunteer appointments to committees and training.
- Conducts meetings with notice, with agendas, with a quorum, in a timely manner and according to Robert’s Rules (annual meeting, board and committee meetings).
- Keeps assessment delinquencies to less than 5%.
- Produces monthly financial reports, has financial fraud protection measures, and formally adopts a budget that avoids large annual increases in assessments.
- Maintains adequate reserves and avoids special assessments.
- Maintains all necessary insurance coverage.
- Regularly conducts a site inspection to ensure compliance with the covenants which are fairly enforced with written notice, hearings and fines.
- Has a maintenance program for common areas and other exterior responsibilities (such as painting, roofing, gutters, power washing, landscaping, etc usually found in townhome and condo communities). Awards contracts fairly according to a specification, bid, award, inspection, and warranty process.
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If you HOA board is surprise to learn that your Association isn’t as healthy as you think in some areas, consider hiring an HOA management company to help with your weak areas. Do you remember the last time your HOA did a reserve study? A manager can help get you in contact with a reserve specialist. Do your finance reports look like a foreign language to you? A management company can help prepare them in a way that makes sense to you. Are you unsure if you’re compliant with new California state laws that affect your community? A manager can make sure you’re kept up to date.
Not only is it beneficial to do a check-up for your Association, it may also help educate members about the responsibilities Board and when to speak up if they notice something not getting done that should.
If you’d like to give your homeowners a check-up, contact The Hignell Companies for a free evaluation.