Is Your Homeowners Association As Healthy As You Think?

The average HOA website is quick to celebrate an achievement of their community but most aren’t quite as interested in evaluating the operations of the HOA to verify everything is functioning at a high level.  Occasionally, an HOA must assess their performance.  They need to gather members and perform an evaluation to ensure that the association is still in decent shape.  If they let certain failures and weaknesses continue to worsen, the association might collapse in the long run.

 

How can you determine the health of your association?  All you need to do is check how the association is performing in some key areas.  For instance, check whether the board has adhered to the rules and regulations of the community, as well as the state, with regard to managing all aspects.

Find out if proper elections have been staged and whether or not there has been volunteer appointments for key roles.  Are meetings carried out in a timely manner?  Also, are they conducted with proper agendas and do they meet the quorum when conducting business?  Aside from that, look at the financial reports to see if the budget is within reason.

Look at the insurance coverage and maintenance programs, then study every single aspect of your community from top to bottom.  Use the HOA website to involve other members in this survey.  Score each category on a scale of 1 to 10 and the data you acquire will determine the health of your association.

 

If the results of your study conclude that your association isn’t healthy, it may be time to hire an HOA manager.  They know how to identify where the association has weaknesses and then provide effective solutions.  A manager will also interpret your financial reports, perform a reserve study if needed, and ensure the HOA is compliant with all the relevant rules and regulations!