More than 358,000 neighborhoods in the United States are managed by homeowners associations (HOAs). There are many benefits to living in such communities. These include an elevated level of community living, amenities, and fantastic home value retention.
HOAs require a lot of time and work, though, usually carried out by a board of volunteers. It can be overwhelming.
Below are some basic community association management tips for navigating common challenges seen in Fort Bend, TX communities. Keep reading to find out how to get the most out of HOA and to make life easier for you and your board.
Understand Governing Documents
Effective community management begins with having a firm grasp of the rules that govern the neighborhood. These include covenants regarding HOA responsibilities.
They extend to community standards for property upkeep or behavior. Bylaws should also stipulate penalties for residents who fail to abide by the rules. You also should be familiar with state laws regarding associations.
Stay on Top of Buildings and Grounds Maintenance
One of the main responsibilities of community association management is maintaining communal grounds and buildings. Since residents' dues go to pay for these, being a good steward of this money is important.
Make sure there are regular inspections of buildings and amenities. These include swimming pools, tennis courts, playgrounds, and gyms. It also extends to things like fencing and automatic entry gates.
Identifying minor issues before they become major ones is much more manageable. It also will save you money in the long run.
Communicate With Residents
Maintaining regular communication with community members is key. Regular newsletters and emails are a good place to start. If your HOA has a community message board, be sure to provide updates regularly.
Make sure residents know about upcoming events. These include festivals, board meetings, or anything else open to all community members. Also, let them know about rule changes or major projects in the community.
Stick With Your Budget
Another good practice for HOA board members is to keep a tight budget. Like with a business or household, ensuring you have enough money to cover all projects and expenses is vital.
Budget for grounds upkeep and maintenance, including private sidewalks and roads, as well as professional services, such as accountants, financial planners, and lawyers. Also, ensure there is funding for community events, such as seasonal or holiday gatherings. If your neighborhood wishes to take on improvement projects, you may need a separate line item for that.
Finally, it is always a good idea to have a rainy day fund. Should your HOA encounter a lawsuit or need to take on eviction proceedings, these can become expensive. You need to ensure you have funding should the unforeseeable occur.
Learn More About Community Association Management Near You
Community association management can be a lot of work, but the results are a net positive for your neighborhood. If the responsibilities become too overwhelming, consider enlisting the assistance of a professional management company. They can take on the tasks above and provide many other benefits to your neighborhood.
PMI Fort Bend is a full-service property management outfit specializing in professional community and association administration. Contact us today to discuss how we can help manage and improve Fort Bend community living.
