As an HOA board member you probably know what a reserve study is and the importance of doing one. If you don’t, take a couple of minutes to read this blog to familiarize yourself with frequently asked questions about doing a reserve study in your homeowners association.
Homeowner associations are sometimes faced with special circumstances that arise even when they’ve done an excellent job of planning for replacement costs. Large-scale repairs, emergency situations, or capital improvement projects may occur that put their reserves dangerously low. Special HOA assessments, in addition to monthly HOA fees, could then be the best option.Read More >>
More precisely, does an HOA’s Board of Directors have authority to make important decisions for the community without seeking input from their homeowners – either informal consultation, a survey or a formal vote?
The short answer to the question is “Yes.” The HOA board is established to oversee the governance of the association on behalf of the homeowners/members. While HOAs are quasi-governmental in nature, they are not pure democracies in which members vote on every issue. The long answer to the question is more complicated.Read More >>
When your community is recruiting new HOA board members, there are certain qualities to look for in prospective members and good strategies for getting these individuals involved.
Good Attention to Detail and the Big Picture
Good candidates for your HOA board are people who can delve into the details while keeping an eye on the big issues. Board members must be willing to spend time reviewing and understanding the details of their governing documents. They also should be people who commit to frequently evaluating and refining their HOA's big picture plans for the community.Read More >>
A well-focused board of directors is efficient, productive, and in most cases, a pleasure to work with. The board of directors sets the tone for how things get accomplished and how the HOA is maintained overall. But what happens when one, or more, of your directors has personality issues with the rest, or even worse, what if he/she has a hidden agenda and is self-serving? Bogged down in disagreements, nothing really ever gets accomplished. Sound familiar? Read on.
Here are 6 Signs your board member(s) may be a problem:
The Board of Directors (BOD) for your homeowners association has an immense financial obligation to the community. One of the BOD’s most important jobs is to keep legible and accurate financial reports and records. These reports and records provide an overview of your community’s revenue and expenses against its financial projections or budget.Read More >>
An HOA functions like a mini-city, collecting funds, managing finances, maintaining facilities and adopting and enforcing rules. An elected board of directors oversees these activities. Board members have fiduciary responsibilities, defined in law and HOA documents. All these activities and responsibilities apply to an HOA whether it has 1,000 units or only 25.
Thus, HOAs are complex, requiring professional expertise to manage properly. The question is, who will be the HOA manager to do this? Before assuming that members of the board can manage all of the HOA’s affairs, let’s look at what’s involved in more detail.Read More >>
There seems to be one in every homeowners association. That one HOA board member that consistently disagrees, goes against the majority, or at the very least enjoys playing devil’s advocate. Do you have a Scrooge – a mean spirited, miserly person – on your Board? There are ways you can deal with them.Read More >>
It’s important for an HOA board to work on ending the year well. It doesn’t matter if your homeowners association plans around the fiscal or calendar year, the questions below apply to both. It’s not too late to ask yourself some of these questions and make a resolution to do these things in the New Year to come.
As a volunteer of the Board of Directors, you have the opportunity to help the homeowners in your community through issues that impact one of their biggest investments. Unfortunately, at times, owners forget that you are a volunteer of the Board and not a full-time employee. It’s very important to set boundaries with homeowners and fellow HOA board members on the appropriate time to discuss HOA related issues and do HOA related tasks.Read More >>