If you're an HOA member, you'll have to take part in annual HOA meetings.
27% of American homeowners enjoy the perks of living in an HOA. One of the biggest of these perks is being able to help decide the way the community operates on a daily basis. Board members make important decisions, but not without the community's input.
The HOA annual meeting is where you'll voice your concerns and opinions. In this post, we'll tell you what you can expect from your HOA meeting and how they help improve your community. The more input you give at an HOA meeting, the more benefits you'll see, so keep reading and learn how these meetings operate.
Annual Budget Presentation
One of the most important components of an annual HOA meeting is the budget presentation. Every homeowner in an HOA should know exactly where their HOA fees are going and have input on it. An HOA board is responsible for ensuring that the money is well-spent and the community as a whole is happy.
When the budget is presented, you'll see the previous year's expenditures compared with the upcoming ones. Any changes to the budget will be explained and all homeowners will be able to ask questions about the new numbers.
Other Presentations
In addition to the HOA board, you've got other volunteers who make up different committees within the HOA. At the annual meeting, these various committees will have a chance to present any new developments or proposals that they've got.
Examples of HOA committees include the landscaping committee, the architectural committee, and the enforcement committee.
Board Elections and Proposal Votes
Elections are another big part of the annual HOA meeting agenda. Homeowners always have the chance to elect new board members when they're unsatisfied with the direction of the HOA or when a board member leaves.
There are a number of roles in the HOA board, including president, secretary, treasurer, and others. You should get notified of new candidates and their platforms ahead of the annual meeting so you're fully informed when you vote.
Discussion of Future Projects
One of the best parts of living in an HOA is the continual improvements to the community. Your board and HOA managers work diligently to maintain and improve the common areas, but you'll have your input at the annual meetings.
What major projects your HOA decides to move forward with will depend on a number of factors. Chief among them is how the proposal is received at the annual meeting. If you feel passionately one way or another about a certain project, you can voice your opinion.
Don't Miss Your Annual HOA Meetings
HOA meetings are essential for taking the right action for your association. A regular HOA board meeting can keep the community thriving, but an annual meeting is where homeowners are able to voice their opinions. Now that you know what to expect, you can properly contribute to your HOA.
Your HOA board should have your best interest in mind. If they're falling behind, it can be helpful to enlist association management services. For the best HOA management in Dallas, contact us at PMI Nortex Properties today.
