Yahoo Finance reports that 21.8% of Georgia's population lives in homeowner's associations. That's around two million of the state's citizens living in HOAs.
You might assume this means that HOA governance is best for communities. However, its effectiveness depends on skillful community association management.
There are horror stories about HOAs for a reason. You don't want to be one of them.
Keep reading to learn more about proper homeowners' association support. We'll discuss what good HOA governance should consist of.
What Is an HOA Board?
The HOA board manages the association's finances, enforces rules, and makes general decisions to help the community. Here's a more detailed list of what they do:
- Finances
- Set and collect dues and assessments
- Set association budget
- Decide how to spend budget funds
- Pay association expenses
- Rule enforcement
- Enforce covenants, conditions, and restrictions
- (CC&Rs) legally binding rules HOA rules
- Fine homeowners who break rules
- Includes fining those who cause damages
- Place liens on properties behind on dues
- Enforce covenants, conditions, and restrictions
- Other duties include:
- Nominating board members
- Responding to community issues
- Hold meetings to discuss community matters
The HOA board has two primary duties, which all these smaller ones help carry out. The first is protecting the neighborhood's property values.
The board's second goal is to ensure the community's safety and comfort. They want to encourage a sense of togetherness among the association and its neighbors.
What Does Good Community Association Management Require?
Transparency is the best way to encourage good community governance. Be clear and open about what you want to say.
Set up several methods to communicate with everyone. Consider creating a website, social media groups, and a newsletter to inform neighbors.
Host regular community meetings so people can voice concerns, ask questions, and learn what's happening in the neighborhood.
The board ultimately makes decisions on behalf of the community. However, meetings allow everyone to have input on HOA community solutions.
Managing Finances and Enforcing Community Rules
Good HOA governance requires financial competency. Setting a reasonable budget is the best way to ensure you can accomplish your goals.
Tell the community about the budget annually. They'll want to see where their money is going and transparency may encourage confidence in the board's decisions.
Clearly establish whatever rules you set for the community. Be explicit about what they are and why they exist.
With concise rules in place, you'll help prevent confusion and disputes. Of course, you can't always prevent misunderstandings.
Be prepared to explain why a rule exists the way it does. You must also have a mediation process to resolve conflicts and disagreements.
Finding Competent Homeowners Association Support
Hopefully, this article has taught you some of the best ways to provide good community association management. That said, running an HOA is hard work.
PMI Northeast Atlanta is here to lend a helping hand. Our management team customizes its approach to accommodate HOAs across the region.
We handle accounting, reporting, and maintenance. We also provide various board member resources to help make your job easier.
Contact PMI Northeast Atlanta today. Get started streamlining your management journey!
