HOAs are becoming increasingly common in the United States, especially for new homes. Reports show that 82% of newly constructed homes belong to one. That means you may get involved in an HOA in the future.
Understanding how HOAs work and the best ways to run them is essential. Follow the home owners association management strategies below to optimize your HOA.
Encourage Transparent Communication
If you want an HOA to work for the betterment of a community, you need residents to trust it and get involved in the process. However, it's hard to do that if everything happens secretly and homeowners don't know what's happening.
HOA board members should regularly communicate with residents. They can do this in several ways:
- Newsletters
- Flyers
- Social media
- Discussion boards
Use these communication methods to discuss what the HOA is doing and ensure residents can respond to express their concerns.
Improve Community Engagement
The next part of effective association management is to ensure homeowners get involved. Many people are passive in their HOAs. Although it's fine if some do this, it can lead to an HOA that doesn't understand what the members want.
Do what you can to encourage turnout. Schedule meetings at convenient times, send feedback forms to homeowners, and set up events to unite the community. These things will make residents feel part of the community and may make them more willing to get involved.
Invest in Great Finance Management
One of the best homeowners association best practices to invest in is financial management. Although many HOA boards are volunteer positions, they still need cash to invest in the community.
HOA boards must find landscaping, building management, and emergency services vendors. That won't happen without a budget for regular expenses and an emergency fund for unexpected problems. Work with board members who can create budgets or find an HOA management company to help with accounting.
Invest in Maintenance
One of the biggest pluses of living in the HOA is living in a great-looking community with amenities. This means the landscaping is cared for, and community features like pools and clubhouses are available.
The HOA board needs a plan to care for these things. Look for reputable companies to handle community maintenance to ensure the neighborhood always looks great.
Create Fair Community Rules
An HOA works well for homeowners because it sets minimum standards for a neighborhood. Residents must maintain their property and avoid violating rules that make the area look less desirable. This works for people because it keeps the area looking great and maintains property values.
Have clear policies that establish rules for homeowners. These policies should not be overbearing, but they should hold residents accountable for neglecting their home's upkeep.
Optimize Your Home Owners Association Management Strategy
The HOA's job is to protect homeowners and ensure the neighborhood is a great place to live for everyone. Unfortunately, it's hard to run successful HOA operations if the board doesn't have a strategy for efficient operations. Use the HOA management tips above to improve your HOA.
At PMI Fort Bend, our home owners association management services can help with many of your needs, including financial reporting, property maintenance, and administrative help. Contact our team to learn more about how we can help your HOA operational strategies.
