How does inflation impact your HOA, and management in the greater HOA industry? Considering that inflation and HOA decisions both acutely affect today's homeowners, this is an important question to ask.
Budgeting is often considered one of the more challenging parts of community management. However, I want to flip that script and consider that it can be one of the best tools to plan for your year ahead, and it can be fun learning so much about your community. But everyone should participate because, as I always like to say, we can do whatever we want to do in the short and long term, but we have to pay for it. So there’s a balancing act. Here are some tips to help you in the process:
A homeowner' association board has a role in ensuring its community runs flawlessly and with financial stability. However, the association may encounter a huge or unanticipated expense, such as a leak in the clubhouse roofing. If that happens, and the regular dues are not adequate to cover the unexpected expenses, the HOA's reserve fund comes in very handy.
Security is a paramount concern of every homeowner's association (HOA) / Condo community board. Such boards will change to protect their communities by ensuring the security is top-notch. They thus source for the best security companies to ensure that every homeowner feels secure in their community and ensures the safety of their hard-earned wealth.
Many homes and multi-housing facilities have decks as they have become a popular way of adding more space to a home; besides providing a place to relax outside, decks are wonderful places to entertain guests and enjoy outdoor dining, especially during the warm months.
Package theft has become the scourge of modern neighborhoods. With online orders at an all-time high, receiving packages has become normal for families and professionals. But porch piracy also makes the neighborhood feel unsafe. It's not just annoying to lose a package, it's also costly and frightening. This is exactly the kind of thing that community associations work to prevent. Of course, you want to protect your residents from package thieves and the other crimes that successful theft might invite.
The issue of cell towers has been a hotly debated one across homeowner associations. You have plenty of open space and phone carrier brands want to put a tower in your midst. Should you allow it? What benefits does the cell tower deal offer to your community, and how does that contrast the downsides? And if you do decide to build a tower, how can you enhance those benefits and minimize any downsides for your community?
The driving goal behind homeowner associations is to benefit through sharing. Pools are expensive, but we all get a pool by sharing the cost. Keeping an expansive lawn is lavish for one purpose, but becomes a community park when shared and everyone benefits. Shared responsibility can cover the cost of regular maintenance and predictable repairs infinitely. But maintaining an entire community isn't always so enjoyable. Unexpected and costly repairs are sometimes also shared in ways that are financially heavy on the community members.
One of the greatest things about being part of an HOA is joining in the community events. Barbecues at the pool or holiday parties in the clubhouse are always a draw, but some communities go big for the benefit of everyone in the neighborhood. Block parties are an opportunity for every member of your HOA community to join in and have a good time when the weather is nice.
Should Your Community Association Enforce Board Member Term Limits?:
Deciding whether our HOA should enforce term limits on board members is not always an easy decision to make. Moreover, many states have laws in place that either requires board members to have a term limit on their services or prohibit HOA/community organizations from setting term limits on board members. Knowing the laws in your state is a very important first step to understanding what term limits you can enact on your board members. You also want to know if the term limits that you are setting are against the laws in your state.