If you live in a planned community, apartment, condominium building, or a subdivision, then you’re probably a part of a homeowner’s association, and can even be a member of the HOA board managing your community.
As a HOA board member, you want your association to function without a hitch. However, running a community is not easy and the responsibility can be too much to handle.
Whether you’re an established community that needs to revamp its operations or a new association wanting to implement a proper procedure, here are effective community management tips to ensure an efficient operation of your community:
- Ask For Help
A wise HOA board is never afraid to hire someone for help in managing a community. After all, HOA members have their personal and work-related concerns to worry about, than just focusing solely on running the community.
If the HOA board has too many tasks to handle, consider consulting HOA management agencies for assistance in the execution of its role in the community. If your association is in the greater Puget Sound region, consider hiring Trestle CM. They have extensive experience and knowledge in running a HOA, and better resources that can help support and manage communities more efficiently.
If you’re a new association with board members lacking in experience or managing a large community that board members can no longer support, a HOA management agency can be of great assistance to you.
2. Outline A Clear Objective
When figuring out how to run your association, you need to lay down your goals. A HOA board should establish clear objectives, outlining where you want your association to be at the present and what you want to achieve in the future.
Formulate a mission and vision for your HOA and use it as a guide to help your decision-making and work towards your goals.
From these goals, you can draft long and short-term strategic plans in managing your community. Determine what projects you can to accomplish based on your objectives. Make sure to involve the community when setting goals, keep in mind that a HOA is not only made up of the board but the entire community as a whole.
3. Keep The Community Members Invested
Involving individual members of your community is one of the most important things to ensure an effective HOA.
If homeowners and members are invested, the community can be an efficient and wonderful place to live in. It encourages increased participation in community events and meetings, as well as positive interest in any changes to community policies.
As a board member, you can accomplish this by creating a sense of camaraderie among homeowners, by being approachable and friendly to everyone. The HOA board should aim to keep members united and increase their interest always.
It’s also important that you make residents feel heard and valued, making them more likely to participate and invest in community events.
4. Create A Large Reserve Fund
Reserve funds are an essential part of a community’s finances. These funds are for valuable projects, and emergency expenses, especially during calamities.
However, having a reserve fund is not enough. It should be a significant size in order to be useful in the future. You don’t want to have a small reserve fund that can only provide menial help during emergencies and unexpected expenses. In this case, HOAs tend to impose financial payments or ask for donations from homeowners to come up with the money.
It is important to save up a sizable reserve fund for your community, you should aim for at least 30% of your community’s total maintenance fees. In addition, associations should also conduct research every year to ensure that their reserve fund levels are enough.
5. Ensure Transparency
Transparency is critical to building a strong foundation for any community.
To foster a transparent community, there should be open communication between HOA and the community.
Each policy change, due date, or any other important information should be readily available for everyone in the community. One of the best ways to do this is to set up a social media page for your HOA, making it easier to disseminate information and posting updates instantly. By implementing this, homeowners can stay updated on the latest news and happenings in their community.
Running a HOA and keeping a community together can be challenging. No community association can be perfect, but by organizing it properly, it is feasible for it to run smoothly. The most important thing is that you’re always trying to find ways to effectively manage your community.