Establishing procedures and techniques to keep your neighborhood running smoothly is crucial. We’ve put together 6 HOA tips to improve your community. They will help you address problems in your association and operate smoothly and efficiently.
1. Conflict Resolution
Conflicts are bound to surface from time to time, but it’s important that they are resolved as they arise, so no tensions fester and create further problems down the road. Have a conflict resolution plan that will help you negotiate between the two parties to find a solution.
2. Reserve Funds
Reserve funds are an HOA’s emergency funds that can be used for large projects or for unexpected expenses. It’s recommended to have a sizable reserve fund that is almost 30% of your total maintenance fees.
3. Vendors and Associates
Hire the right vendors and associates that have the quality of service, reputation, and price your community needs. Do your research and due diligence when hiring people to do work for your community.
4. Reinforce Policies
Enforce the HOA rules fairly and regularly. You must consistently remind homeowners of the policies and make sure that everyone is adhering to them.
5. Have Good Communication
Make sure that homeowners know how to contact board members when they have questions and can access the rules and regulations at all times. You want homeowners to be connected and able to chat with others in the community.
6. Outsource When Needed
HOAs have a lot to manage, and it can be difficult for volunteers to keep up with the day-to-day tasks. If self-management becomes too much for your association, find an association management company that can help. With years of experience and a wide range of resources, Prism Realty Management is a great place to start!
If you have any questions about all of the ways you can improve your community or you need more HOA tips, contact Prism Realty Management. Give us a call at 512-676-5842 — we’d be happy to talk to you about who we are, the services we offer, and our process.