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HOAManagement.com - The HOA Management Industry Directory

Examine Your HOA For Better Results

5 Tips for Reading Your Reserve StudyMost board members of a homeowners association seek to keep their association healthy and assure the community is involved in the associations overall improvement and growth. How is your HOA? Is it time to ask yourself some questions to see how truly healthy your association is?

Community Members Involvement

One of the questions board members should ask themselves is if the community members are present at meetings and if their opinions truly matter? Some board members would agree that not many residents show up to annual meetings and often seem like they either don’t care or are not being heard. If you are honest, consider how you can make a meeting more appealing and take the time to assure community members tat their voice is being heard and everyone is on the same team.

Reserve Study In Place

We could argue all day that a budget is not all you need to manage a community association. Here’s the thing, a reserve study is necessary. A budget clearly helps the association from overspending and keeps money in the checking account. What happens when something major needs to be replaced and the association budget is not prepared for such a high cost. A reserve study is put into place for that reason, to pay for planned and unexpected projects that keep the beauty of the association.

Website For Communication

Living in the 21st century most businesses or organizations have a website. It is a way for members to communicate with each other and stay up-to-date on community events. The looks of a website keep outsiders informed of the organization of the community and plant a desire within them to be a part. Does your homeowners or condominium association have an electronic form of communication.

All of these questions will help you decide if your HOA is healthy and if the community is certainly involved.

By: Condo Manager

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