Areas To Evaluate The Performance Of Your Homeowners Association

Homeowners associations across the country strive to be greater every year so residents enjoy a higher standard of living while home values never depreciate.  In most cases, board members know there’s room for improvement but evaluating the performance each year helps identify which areas need attention.  Even the community website should be looked at and how it keeps residents up-to-date.  What should you consider when measuring the performance of your homeowners association?

 

 

Ask board members to grade each area but keep in mind the rules set forth by the governing documents.  Also, seek the participation of residents as they may offer valuable ideas when critiquing the homeowners association.  HOA board members have a duty to fulfill to the association that includes organizing meetings and producing financial reports.  How are those being conducted throughout the year?  Is the association operating within or under budget?

 

Typically, leadership is noticeable after a few meetings and seeing the guidance shown by HOA board members.  Are meetings carried out consistently and according to the agenda or do topics get discussed not on the agenda?  This is an area where board members must exercise discipline and follow what is outlined in the governing documents.

 

The community website is a popular place for homeowners to see the latest updates in the neighborhood.  Common areas in the community indicate how well the homeowners association is being maintained.  A healthy homeowners association takes necessary measures to maintain an adequate amount of reserve funds for the upkeep of common areas.

 

 

If reserve funds are inadequate, projects may be postponed or the association could impose a special assessment.  Not only does this show poor performance of the homeowners association but it causes residents to question the decision-making of board members.  After an evaluation, get advice from a manager or specialist to ensure the homeowners association performs well in all areas.