It’s Time for an HOA Management Checkup

It’s Time for an HOA Management Checkup

hoa management company

The New Year is coming. How effective is your HOA management team? If you haven’t taken a close look at what you are doing, it may be time to do so. An HOA management checkup can help ensure that your HOA is doing what it was designed to do – meet the needs of the community well. Here is a closer look at the benefits of an HOA management checkup, and why now is the time to schedule one.

Fulfilling Your Responsibility as an HOA Board Member
HOA board members take on a huge responsibility to their community members. One of those responsibilities is ensuring the association is managed honestly and effectively. When you schedule a checkup of your HOA management team and techniques, you are ensuring that you are meeting that responsibility. When your HOA is not working as it was designed to do, your community suffers. Regular checkups can help protect the property values in your community by ensuring HOA budgets are well spent, homes are kept up and fees are kept reasonable.

What Is Included in an HOA Management Checkup
If you are considering an HOA management checkup, you may be wondering what it includes. At a checkup for your neighborhood and management team, you will receive:

  • Inspection of all common areas. Make sure that your common areas are properly maintained and in good repair. This inspection will include safety inspections and an assessment of your future planning.
  • Reserve study performance. A reserve study looks at all of the common elements of the community and makes a plan for future repairs and replacement needs, so your HOA can start setting aside money in reserve to cover those costs. This will ensure that you are not left with bills you cannot pay when a common area has a serious repair need.
  • Project reviews. Make sure large upcoming projects have been properly planned, and past projects were executed well. A project review can help you make changes based on the performance of past projects so you are better prepared for future projects.
  • CC&R enforcement. Are your property owners maintaining their homes and yards as outlined in the bylaws of your community? As part of your HOA management checkup, you can have this checked.
  • Financial management assessment. Finally, an HOA’s job is to collect assessments and make financial reports of how the dues were spent. Your checkup will include an assessment of the HOA’s management of the community’s finances.

As you can see, this thorough checkup will give you valuable tools to make your HOA more effective. If you need these insights or want to enter the New Year armed with the knowledge to make your community more effective, reach out to Henderson Properties to schedule your HOA management checkup today.

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