Over 73 million Americans live in homeowners associations.
The quality of life in an HOA depends on the quality of the leaders you have on your HOA board. These people handle a variety of tasks to ensure the community is thriving and residents are happy. Whether you're thinking about buying into an HOA or becoming an HOA board member, it's important to understand what a HOA board manager does.
Today, we'll discuss the duties of an HOA board manager. When you know what the HOA board does, you can determine whether or not yours is pulling its weight. Keep reading and make better decisions for your HOA.
HOA Accounting
One of the primary duties of an HOA board manager is to look after the finances of the entire HOA. This involves collecting HOA dues from all members, dealing with any late payments, forming annual budgets, and balancing the books.
People move into HOAs for a number of reasons, one of which is that they can enjoy high property values and continued development. If this is going to happen, you need to prioritize accounting.
The HOA manager needs to deliver regular financial reports on the health of the HOA. Members should never be left in the dark about the HOA's finances, nor should they wonder what their HOA fees are paying for.
Settling Disputes
Another reason why people purchase homes in HOAs is to enjoy a certain lifestyle. There are common rules and regulations that all HOA members need to abide by. Of course, when you've got dozens of homeowners in an organization, there are always going to be disputes and rulebreakers.
The HOA board is there to settle these disputes and ensure everyone is abiding by the regulations. Some of the common regulations in HOAs involve parking, pets, and noise.
Punishing homeowners can be an uncomfortable thing for an HOA manager to do. For that reason, it can be helpful to hire an HOA management company to help out with regulation enforcement.
Maintenance and Improvements
The common areas of the HOA need to be maintained on a regular basis. One of the most important duties of an HOA board manager is to deal with vendors to ensure grass is cut, leaves are raked, and repairs are completed in a timely manner.
Beyond that, you need to be thinking about improvements that can be made to the community. Whether it's adding a playground or repaving the roads, there should always be ideas for how HOA money should be spent. Improvements need to be planned in advance and communicated with all homeowners.
Is It Time to Hire HOA Management Services?
These are a few of the many duties of an HOA board manager. If you're finding it difficult to stay on top of these duties, it could be time to hire HOA management services.
At PMI Nortex, we offer the best association management services in the Dallas area. We also have plenty of resources for board members to help make your HOA community thrive. Contact us today to find out how we can help.
