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 >>
Some HOA boards have the need to discuss things ad nauseum and yet never come to a decision. It can be extremely frustrating when the same topic comes up on the agenda month, after month, after month, and after hours of discussion, nobody's willing to say either yes or no. They either need more information, want to hear from so-and-so who's not there, or avoid the topic altogether. So how can decision-making be improved for your Board?Read More >>
Are you tired of the lack of customer service from the management company your association has had for a number of years? It's possible that the company was inherited from past HOA board members. Maybe they hired the management company because they liked a specific manager, but that manager no longer works for the company and your HOA is no longer receiving the care and attention it once was. It may be time to hire a new management company to breathe new life into your association community.
One of the first things you learn as you enter the world of homeowner’s association management is all items must be discussed at a board meeting and all decisions must be made in a meeting. In my eight years as an HOA Portfolio Manager, I’ve never had a Board who hasn’t met on a regular scheduled date, until recently. I took over an association and they haven’t had a meeting in over a year! That’s just crazy! Let me explain the importance for you.Read More >>
You ran for the board on the platform of remodeling the clubhouse that has become outdated. What you haven’t shared with the members of the association is that your daughter is getting married next year and the clubhouse would be the perfect place for a reception.
The association has never charged for members to use the clubhouse for gatherings and you know that this will be a great way to save some money on the reception, but the brown plaid furniture will never go with your daughter’s theme for her reception.Read More >>
You’re the President of the HOA board in your community and you’re wise enough to know that you’re in way over your head - but you like a challenge and you’re ready to meet it head on. You’ve read your governing documents and know how to keep a basic balance sheet, but that doesn’t mean you understand the CC&Rs or know the difference between the operating and reserve budgets.
Homeowner associations (HOAs), like most organizations, have adopted information technology for everything from accounting and bookkeeping to email and other forms of communication to preparation of documents and presentations, etc. However, HOA board members and their management staff must recognize and address the risks inherent in modern electronic technology, especially data breaches & server hacks that compromise information the HOA is responsible for keeping private.
Read More >>
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 >>