Managing a homeowner’s association (HOA) isn’t an easy process. Since fees are paid to the homeowner’s association, the people who are living there have high expectations regarding how the association should manage the funds.
Along with figuring out the allocation of funds, it is also necessary to maintain the common areas and determine what homeowners are and are not allowed to do on the property.
HOA managers are likely going to hear opinions day in and day out, and they should understand that not everyone will be happy with the decisions made.
The ultimate goal is to be fair and thorough when it comes to HOA management and, if help is needed, reach out to professionals like Slaton Financial Services.
Some tips to help those in charge of managing an HOA can be found here.
Determine the Main Areas of Responsibility
In some situations, using a software program customized for HOAs will help a manager determine the main obligations of the organization.
There are some responsibilities that are common.
These include a pool and building maintenance, collecting the HOA fees, landscaping, holding monthly meetings with members, maintaining all recreational rooms and any other shared spaces, complaint resolution, recycling, and trash pickup, holding owners responsible for obeying the rules of the association, emergency response to any issues, and building security.
Once the manager has a clear understanding of their main responsibilities, they can move forward with the creation of a management plan for their HOA.
Determine the Outside Help That Is Needed
Managing an HOA is a big job, and it’s necessary to have more than one person onboard handling all the responsibilities.
It will be necessary to seek help from outside parties. After reviewing the needs of the HOA and the budget for these services, it’s best to get cost estimates from a few local service providers.
Hire the options that offer the highest level of service for the most affordable prices.
Take Time When Creating the Annual Budget
It’s a good idea to send a survey to property owners during the last quarter of the year.
This provides enough time to gather results and follow up with anyone who doesn’t respond. When it is time to begin making the annual budget, use a spreadsheet program.
To make sure the budget covers all the related expenses, begin by listing the most expensive processes.
After that, it is possible to allocate the proper amounts for other responsibilities.
Take Advantage of HOA Meetings
During the monthly meeting with the residents in the HOA, it is the perfect time to address any concerns in an efficient and respectful manner.
Remember, most legal battles related to HOAs begin with small issues that the property owners didn’t feel were properly handled.
When it comes to an HOA manager, there are several responsibilities they must handle on a daily, weekly, and monthly basis.
The tips and information here provide a good overview of what to expect and what to do to properly plan for meetings and ensure the property owners are happy and satisfied with the services provided.
Remember, if the HOA manager needs help with planning everything, it is a good idea to reach out to the professionals. They will ensure the proper steps are taken and needed plans are made.