Homeowners associations are becoming more popular in the US, with 75% of new homes being built in managed communities.
HOAs can be incredibly beneficial for a community. An HOA Board is made up of community volunteers who work to make their neighborhood a better place to live for all residents. So how exactly do they do this?
Let's go over some of the key HOA board responsibilities that help communities thrive.
Common Area Maintenance
One of the most noteworthy responsibilities of an HOA board is common area maintenance. Managed communities typically have various common areas like gyms and pools that all residents are free to use. An effective HOA board will organize and oversee the maintenance of these areas to make sure they're always in a good state.
They'll do the same for landscaping to help keep the neighborhood looking great. Not only does this make it a nicer place to live, but it helps support property values. Bear in mind that residents are typically responsible for maintenance and repair work for their own properties.
Administration
The HOA board is responsible for various administrative tasks. These include tasks such as:
- Organizing HOA board meetings
- Distributing notices
- Responding to calls and emails
- Compiling applications
- Maintaining records
These duties are usually not too difficult but can be quite time-consuming. As such, it's not always easy for a board to take care of them along with all of their other responsibilities. It can be best to hire an association manager to help with this.
They can take care of administrative tasks and a lot more to free the board up. This will help keep everything running smoothly within your community.
Financial Tasks
All residents in an HOA must pay HOA fees. These cover the costs of maintenance, vendors, and anything else the community needs. The HOA manages these finances to make sure they're used appropriately.
This includes keeping records and organizing budgets. All of this can be quite complicated and is one of the most difficult tasks for many HOA boards.
The treasurer oversees this, but among homeowners association roles, this is one of the most complex. It's often best to hire an association management company to help with this.
They have the skills and expertise to help manage all finances properly. This will help ensure funds are used correctly and mistakes are avoided.
Board Meetings
The HOA board must conduct regular meetings to keep things organized. There will be meetings that all residents are welcome to attend and offer their input, as well as meetings that are only for the HOA board.
The HOA president will organize and oversee these meetings, and the vice president can do the same if the president is absent. The board's secretary must take minutes and maintain records of all meetings.
Support for Your HOA Board
While an HOA Board can take on various responsibilities, it's easy for them to become overwhelmed. An association manager can support them and help ensure everything is handled properly.
PMI Manhattan Group operates as a part of PMI, which has become the fastest-growing property management company in the country over the last 20 years. Check out our association management page to see how we can help your New York community succeed.
