The absence of effective management in a community is easy to spot. Repairs take time and often require multiple emails to get things actioned, each progressively more assertive than the one before it.
The community looks unloved, with messy landscaping and untidy streets. And there is a lack of social cohesion and community spirit.
You should never underestimate the importance-or value-of a well-run HOA board. Here are five tips for ensuring your association in Hartford, CT, has an effective team.
1. Understand the Law
If you are on an HOA board, there are two legal aspects to remember.
First, there are the HOA rules. You'll already have established rules and may want to update them occasionally. It's essential you know these in detail and can interpret them correctly.
Second, you must know broader state law because that impacts what your HOA can do. You'll need to read through Connecticut laws on issues like tenant rights and zoning laws and ensure your HOA is compliant.
2. Focus on Excellent Communication
A successful HOA board can communicate effectively. That means communicating well with one another and the rest of the community. Be clear and consistent with your communication so residents know what to expect with your rules.
Online communication methods are best because keeping everything in one place is easier. Nevertheless, sometimes the most effective form of conversation is a one-to-one chat, so always use the most appropriate option for the situation.
Always ask yourself whether the board is effectively communicating with residents. Do they know what's going on? Or is it worth having a town hall-style meeting in which you can speak to the community directly?
3. HOA Responsibilities for Financial Transparency
You are responsible for managing the finances on an HOA board, which means keeping a budget and tracking spending. More important than that, however, is your responsibility to offer residents transparency about HOA finances.
To do that, use a system that allows you to produce regular reports and publish these for residents. Make sure you use a professional accountant to audit and check your accounts before publishing reports, though, in case of errors.
4. Invest in Training and Development for Community Management
An experienced HOA team will add value to a community. So, continually invest in training and development for the entire HOA team, including the board. Focus on organizational and leadership skills.
Organizational experience will be vital when handling an HOA's day-to-day operations, such as community maintenance. Leadership will be equally valuable in helping you set the board's direction and create a vision for the future HOA.
5. Focus on Improvements
Remember that communities want more than an HOA that handles everyday tasks like cleaning and maintenance. They want an HOA that will be as pleasant and beneficial in five or ten years as it is today.
That means board member duties will include brainstorming, planning, and executing community improvement programs.
Effective HOA Board Management for Your Community
A residential community might offer an appealing lifestyle, but it doesn't run itself. It needs the governance of an effective HOA board team who can demonstrate leadership and know how to run it daily.
Our combination of modern technology and long-established real estate experience makes PMI CONNV perfectly positioned to support your association in Hartford, CT. Discover more about our services here.
