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What Board Members Should Do So that Everyone Pays their Share

If you are on the board of directors of a homeowners association, you will want to make sure that all the neighbors pay their fair share in a timely manner. Doing so will prevent you from facing a financial crisis later on, because until you have paid your dues, your budget will be undergo a strain and will eventually crumple out.  So how do you make sure of this? Here are some things that can help you out.

Keep yourself abreast with the laws

In some of the states, there are limitations on the board members. Obtain a copy of the local rules from a relevant agency, and go through them thoroughly. All along, make sure that whatever you do is in accordance with the laws so that you do not incur any legality down the road. And by the way, these laws often undergo a change, and if this is so, you should be aware of them

Be firm when collecting the amounts

According a professional who is serving a place on the board of directors of an HOA, promptness and firmness is the key to solving any collection issue that arises. Draft out effective policies regarding collection, and abide by all of them in a strict manner. People may find you harsh when you practice this, but this is the only way in which others will become aware of their duties and also take steps to fulfill them.

Seek professional advice and help

Should you face any problem of any sort, take help from the pros.  If you are facing a legal issue, seek advice from a lawyer, and if it is something about finances, turn to an accountant.  Indeed, you may be skilled in many things, but there obviously will be limitations, and should you come across them, do not let them affect you in any negative way.  So for instance, if there is anyone who is not paying you their due share, appoint a manager or a collector to deal with the issue, and do not get directly involved if you feel you will not be able to handle the matter.

Modify the rules

There are many a times when your enforced clauses may put a limitations on the amounts of powers that you have.  If this is so, go through your rules once more and change them.  There are a lot of associations that reduce the time period after which take help from the court. Enforcing policies of this sort may pressurize other members to pay their share as soon as possible.

If your payment plans are not appropriate, consult other board members and draft out a new and more effective plan. Be strict in its enforcement and ascertain that everyone abides by it.

From: Condo Manager

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