5 Things Every Homeowners Association should have:

Generally when one thinks of having something, it is in the physical sense.  This isn’t about what you have but the ideals that the board should have.

  1. Goals: One of the most important things that a board can do is to set some goals for the community, the board and the management company.  At the onset of every year the Board along with management should sit down and discuss what the goals are for the coming year.  What projects, repairs or improvements that should be considered.  These goals should be on the agenda at all your board meetings to ensure that they are met timely.  Your board meetings will be more focused and the end result will always be improved quality of life for all of the residents.
  2. Great Communications: It is vitally important to communicate as much as you can. Many homeowner concerns are usually allayed when everyone knows what’s going on.  With the continued explosion of social media in our society, there are many easy ways to let everyone know what’s going on.  A community only, Facebook page or twitter account can be used to easily give the residents an easy to use information portal to relay or discuss any and all issues in a community.
  3. A focused Board: With ever greater challenges and issues that a Board needs to deal with today, it is important that every member of the Board see’s the big picture and is dedicated to the overall good of the community.
  4. Great relationship with all the professionals: A symbiotic relationship with all of the community’s professionals (accountant, lawyer, and engineer) is essential for a cooperative team to work together.  Granted, an association should only reach out to a professional when needed, but when they are, everyone needs to work together.  A close relationship with your association’s attorney can minimize financial exposure to the community for homeowners who are behind in their payments.
  5. Having accurate records and documents: The basis to every properly run community is the information on hand. Making sure that your rules are up to date and being followed ensures a harmonious and responsible relationship with the other homeowners.  When a challenging relationship with homeowners happens, being able to inform them of the rules and regulations or their financial responsibilities is paramount.  The other professional can only react to correct and proper information that is provided to them.

The ultimate thread through these ideas is relationship.  A good relationship will always be the benefit to all.