One of the things we specialize in at Bell Properties is association management. Whether you have a homeowner’s association or a condo association, we can support your board, your residents, and your community. We have the tools and resources to help you run your HOA board with more efficiency, transparency, and success.
We have found that many people are confused about the role of an association board, and how it should work with a property management company. Today, we’re discussing what an HOA board should do for you, and how we can provide the support you need to make your community a desirable and comfortable place to live.
Maintaining Governance and Oversight
We provide as much help as we can to governing boards because most association boards are volunteers. It can take a lot of time and resources, and you likely have your own full-time job, family responsibilities, and set of passions you’d prefer to pursue. The board of directors at an association must maintain and enforce the bylaws, the rules, and the regulations. This will not always result in more popularity if you happen to volunteer on the board. However, this oversight is necessary in order to protect your community and ensure everyone is treated fairly and consistently.
Board Meetings and Minutes
The association board will need to meet regularly. Check your bylaws for the required number of meetings. The community and homeowners have a right to attend or participate in these board meetings, so it’s a good idea to keep them open to the public. Provide agendas ahead of time, and make sure the meeting is productive. Most boards will have a president, vice-president, secretary, and treasurer. Each elected official should give a report, and any outstanding issues should be addressed and discussed. The meeting minutes are a matter of official record. Make sure they are accurate, transparent, and kept on file in case any residents want to see them.
Budgets and Planning
The association board will be responsible for planning budgets and collecting association dues. The treasurer will have most of the oversight in these matters, and everything must be documented and audited on a regular basis. You’ll need several different accounts for your association. An operating account will pay the regular bills; landscaping, security, pool cleaning, etc. You should also have a reserve for capital improvements, assessments, and other long-term or major expenses.
Community Association Management
An experienced and professional property management company can help your board stay organized, responsive, and communicative. We can provide as much or as little support as you need. Depending on the size and scope of your association, you may need us to coordinate repairs and gather quotes. We can help with the accounting and reporting or take care of dues and fines. We have worked with association boards to organize newsletters, homeowner relations, and committees for various association functions.
We have provided a simple introduction to what an association board does for its community and its residents. There’s a lot more involved, and it can often become complicated. If your association needs some direction and support, please contact us at Bell Properties, Inc.