If you have some responsibility toward your HOA property management, perhaps you’re on the Board of your home owner’s association, or you are involved in running one of the committees or overseeing projects, then you know it can be a challenge to run a good quality HOA when everyone is a volunteer and they don’t have the necessary skills to carry out their role. If perhaps you’re Treasurer you will know this more than most as it can be frustrating getting a team of volunteers to stick to budgets and to comply with all the financial accounting requirements.
So how can you greatly improve your home owner’s association? Particularly as the HOA expands and more households join, what can you do to make it run more smoothly and more professionally?
Improving HOA Property Management
The step larger home owner’s association’s take to improve the function and efficiency of their HOA is to hire a full time HOA Manager or a company that can manage the HOA. You might wonder exactly what is they do, and whether they can add enough value to be worth the expenditure.
There are several HOA functions that a HOA Manager will take over running, and these can include the following:
Home Owner Association Board Management
The HOA Manager will organize and can chair the Board meetings for the HOA. They will ensure there is an agenda for each meeting, that everyone has been able to add to the agenda any suitable points, and that all points get sufficiently discussed. They will make sure that minutes are taken at the board meetings, and then these meetings are circulated around the HOA so that all members can see what decisions were made and what follow up is to be done.
Having a neutral party as chair of the board means that everyone has a voice, that no bias is made on decisions, and on what gets discussed or not discussed at board meetings. The HOA Manager will also act as an advisor to board members to answer their queries and help them play their role on the board, perhaps by providing training or mentoring.
Home Owner Association Query Management
Members of the home owner’s association will often have questions, queries and requests and typically a member of the board would have to deal with these, which can take up a lot of time. But a HOA Manager can become responsible for dealing with all queries, answering them in a timely fashion and where appropriate making a arrangements for work to be completed, contractors to provide quotes, or a professional to provide advice.
The major advantage of having a home owner association manager is that they will be focused on the task full time, which will ensure that the HOA runs a lot smoother, more efficiently and to ensure that spent funds are dedicated and wisely allocated. Whether a medium sized or large sized HOA, a HOA Manager can be a great investment freeing up everyone’s time and ensuring things get actioned.