Every HOA has an HOA board that oversees everything from community maintenance to rules and regulations.
The nearly 74 million Americans who live in homeowners associations do so to have a certain quality of life. HOAs give members higher property values, safe communities, and an abundance of amenities. As long as the HOA board is on top of it, living in an HOA is fantastic.
If you really want to bring your HOA to new heights, however, you'll consider bringing in HOA management. Keep reading and we'll look at some of the responsibilities of an HOA board and tell you how HOA management services can support the board and improve your community.
HOA Board Accounting
One of the main things that an HOA board does is look after the community's money. Each homeowner pays a monthly HOA fee, which is pooled and used to pay for things like maintenance of common areas and improvements.
The board must keep accurate accounts of income and expenses, and help to create an annual budget. They'll also need to file taxes on behalf of the HOA.
Maintaining Community
Maintenance of all of the common areas in the community is an integral part of the job. Whether it's landscaping, snow removal, or repairs to amenities, the HOA board will need to coordinate with vendors to develop a maintenance schedule.
The HOA board has to make improvements that are in the best interest of the entire community. Once a decision has been made on a development, they'll need to reach out to the right vendors to make the project happen.
Enforcing Rules
HOA regulations are rules that members must follow in order to live in the HOA. Of course, when you have dozens of homeowners living in a community, you're going to have rule breakers. This can create unnecessary tension in the community, especially if these people aren't held accountable.
The HOA board is responsible for enforcing rules and issuing fines to those who disregard them. It can be an awkward job, which is why a lot of HOA boards decide to bring in professional HOA management.
Communication
Last, but not least, an HOA board has to stay in constant communication with members of the community. Whether this involves holding regular meetings for community members or sending out a community newsletter, it's essential to keep people in the loop.
An HOA is about building a sense of community. If you can't communicate with your HOA members, they'll start to feel disconnected from the community and wonder where their fees are going.
Experience the Benefits of HOA Management Services
These are a few of the many responsibilities of an HOA board. If you're finding yourself falling behind on these duties, it might be time to hire HOA management services to help out. HOA management can take some or all of these responsibilities off the shoulders of HOA volunteers.
One of the top HOA management services in the country comes from PMI Mountain West. Contact us today to learn about our services and how we can improve your HOA.
