Around two-thirds of newly completed homes in the country are part of HOA communities and Georgia is no exception.
If you're an HOA homeowner, we don't need to tell you how important community leadership is. Every HOA has a board of directors who call the shots on everything from spending to which new amenities go into the community.
Whether you're thinking about joining your HOA board or replacing them with an HOA manager, it's good to know what their responsibilities are. Today, we'll go over the main roles of the HOA board so you can figure out if yours is doing its job. Keep reading and you'll be able to improve your community in 2024.
HOA Property Maintenance
HOA property maintenance is essential for the safety and comfort of the community. A properly maintained community has happier homeowners. It's also one that sees more interest from property investors, which drives an HOA home value up - sometimes as much as 4% higher than non-HOA homes.
Property maintenance comes down to vendor coordination. The HOA board must contract and schedule local vendors to take care of everything from landscaping to road repair. Failing to do so will make it hard to get vendors when you most need them, which can send the community into disrepair.
Collecting HOA Fees
All HOA members must pay their HOA dues, which are pooled together to pay for everything the community needs. The HOA treasurer is the person responsible for fee collection, bookkeeping, budgeting, and other accounting duties.
Most treasurers have no accounting experience. Poor money management can put communities at a major disadvantage, even affecting property values and the HOA fee amounts.
This is when many HOAs decide that hiring an HOA manager is the right move. These companies keep accountants on staff who can responsibly manage a community's funds.
Running HOA Meetings
HOA meetings gather all members to make important decisions. An HOA manager should run organized meetings that allow everyone to voice their opinion on the matters at hand. A disorganized meeting won't accomplish anything and the community will suffer.
It's also important for the HOA board members to take accurate meeting minutes. They're the ones responsible for carrying out the community's wishes promptly and efficiently.
Enforcing HOA Rules
All homeowners are subject to their HOA governing documents. These are the rules and regulations that cover things like rental properties, pet allowances, and quiet hours.
Whenever you're setting rules for dozens of homeowners, there's bound to be rule breakers. It's the HOA board's responsibility to issue penalties to bad actors, but this can create a strange power dynamic between the board and other homeowners.
If this happens in your community, hiring an HOA manager is a good solution. They'll have no issue handing out penalties and diffusing conflicts between homeowners to create a more harmonious HOA.
Is Your HOA Board Cutting It?
These are the roles that an HOA board should fulfill. If yours isn't cutting it, hiring a property manager is the best path forward. A good HOA manager can handle all HOA board responsibilities and support your board wherever needed.
PMI Terminus is the top property manager in Smyrna, offering all of the services discussed here. Contact us today to learn more about how we can help your HOA.
