There are currently over 350,000 managed neighborhoods in the US, and living in one offers various benefits.
Despite that, there are still plenty of people who don't really understand what a homeowners association board is or what it does. An HOA board is made up of community members who volunteer to take on various duties to benefit their community. Through HOA meetings, they determine what actions they can take to improve things for residents.
In this guide, we'll look at some of the key responsibilities of HOAs and why they're important. Keep reading for more.
Maintain Common Areas
One of the main responsibilities of an HOA is to look after common areas. These are amenities that are open to use for all residents. Typical examples include swimming pools, gyms, and parks.
An HOA will make sure they're in a good state and safe to use. This involves sourcing contractors whenever needed and overseeing maintenance and repairs.
Similarly, they're responsible for things like walkways and sidewalks. This includes keeping them clear of debris and keeping up with landscaping throughout the neighborhood.
Manage Finances
All residents must pay HOA dues. These go towards everything that the HOA does such as maintenance of communal areas and organizing events.
It's essential that these dues and all other finances are handled correctly. Mistakes can cost the community and residents won't be happy about this.
One board member is designated the HOA Treasurer, and they're responsible for budgeting, insurance, and taxes for all community areas. This is often quite complex and challenging, so many HOAs struggle here. Getting help from an association management company can be vital.
Handle Complaints
When residents have complaints, they can take them to the HOA. The board will be able to assess the situation, mediate it, and find a resolution.
Such situations often involve disagreements between two residents. It's important for the HOA board to remain impartial and handle things fairly. This can sometimes be difficult as they often have personal relationships with various residents.
They need to be able to sit down and discuss the matter with both parties to get a clear view of the situation. From this, they can then take suitable action to remedy the situation and (ideally) prevent it from happening again.
Hold HOA Meetings and Organize Documentation
HOA meetings are crucial, as board members can use these to decide on future actions for the community. The board president leads meetings, announces agendas, and maintains order. The vice president has similar responsibilities and will stand in for the president if necessary.
There's a board secretary who will record minutes and organize records. They'll also review and update documents, making sure they're available for community members. Additionally, they'll ensure legal documents are filed properly and on time.
What if the HOA Needs Help?
In many cases, HOA boards can't keep up with their responsibilities. A professional association manager can help with this. They can take on various duties to make things easier, such as organizing HOA meetings, managing finances, assisting with legal matters, and more.
PMI Green Rock is a professional association management company based in Seacoast, New Hampshire, with a team that has decades of experience. Take a look at our association management page to see more about what we do.
