There is a growing stigma against living in a community with an HOA. Community associations, like other organizations, rely on people, and misinformation travels much faster than facts. Therefore it is critical to protect your HOA reputation. Here are four ways to maintain a healthy relationship with your community.
Knowledge
Training is everything when it comes to protecting your HOA reputation. It is critical to educate new Board Members and ensure that every person on the Board understands their roles and responsibilities. Several laws and rules govern the operations and functions of an HOA, and they vary from one state to another. Knowing where to draw the line between what community volunteers can and should do and when to seek professional guidance is key. Every HOA Board should have and abide by a Code of Ethics. A knowledgeable BOD that has a solid understanding of its role and high ethical standards will protect the community and build the association’s reputation. The Code of Ethics should be discussed at least once a year, if not more frequently.
Communication
Effective communication establishes harmony within the community. Homeowners must have several communication tools and options available to share questions and concerns. Regular emails and newsletters will help members feel updated and in the loop. Some say that over-communicating is better than no communication, but that may not be the case. Being inundated with frivolous information will cause important information to get lost in the fray. Communication must be short and to the point if you want homeowners to read it.
Holding regular community meetings is a great way to keep folks updated. Meetings should also follow the short and to the point rule. Homeowners will not attend meetings if they deem them a waste of time or of little value. It is essential to have a detailed meeting agenda and not deviate from it.
Providing a current budget and community information to potential buyers is also a great way to build and protect your HOA reputation.
Transparency
There is nothing that can break trust more quickly than the thought of deception. If you keep your members in the dark about HOA matters, especially the budget, they will grow suspicious. Homeowners pay regular fees, and they naturally want to know where their money is going. If the community thinks that the Board is not disclosing budget details, they will feel that they have no power or influence over the process, which should not be the case. The HOA Board must be transparent and open about the association’s budget. Budget transparency should include a comprehensive breakdown of repairs, improvements, and maintenance expenditures. It will allow homeowners to raise relevant questions and possibly offer more budget-friendly solutions that the Board may not have considered. When residents are informed and involved, they tend to be more satisfied with the community. Practicing budget transparency is the number one way to protect your HOA reputation.
Relationships
Social events and gatherings that bring homeowners and Board members together are great ways to protect the association’s reputation. Creating a space for personal conversations will build better trust and promote active involvement. Encouraging residents to be involved and actively participate in community affairs also promotes transparency. The HOA Board of Directors is in place to protect the community. However, it can be challenging to know every issue homeowners are facing in large communities. A quarterly round-table breakfast or luncheon for homeowners is an excellent opportunity for the Board to understand what people are feeling and offer them a chance to feel heard. Growing and maintaining strong relationships with the community will promote positive feelings toward the HOA.
HOA management companies are in place to help your HOA Board run smoothly. Prism Realty Association Management is here to guide you and provide tips to improve your community. Contact Prism Realty Management. Learn about our services and processes, then call us at 512-676-5842.
