One of the most critical tasks you can perform as a board member is to create policies for your HOA and then consistently enforce them. HOA regulations need to be adhered to by all members including the board members. Failure to implement policies leads to chaos and tension in the organization. It can also lead to lawsuits and conflict that would otherwise be unnecessary. If you need help developing policies including financial matters such as fees and expenses, Gassen can help you define the regulations and enforce them as required. Contact our office today for a consultation.
Why Enforce the Policies?
No one said that putting rules into place or backing them up would be easy. After all, everyone has their own opinion of what the regulations should be. There are several reasons, however, why enforcing the rules is your best course of action:
It’s Your Job. True leaders have to encounter both cohesion and friction in large groups. You must engage in both when they arise. Doing so gives you a strong sense of leadership and responsibility to the organization.
Fairness. HOA guidelines do not meet everyone’s needs all the time, and they’re not always fair. What is fair, however, is your ability to carry out the rules in a consistent manner without selectively picking out which policies to follow. The rules allow you to treat everyone the same way.
Financial Security. Lack of guidelines can hurt your reserve study, accounting records, and your bottom line. Many of the decisions you make in an HOA board meeting have a direct effect on the budget. Rules give you structure that creates financial stability.
Legalities. Failure to enforce policies leaves your organization wide open to lawsuits and other legalities. Homeowners may have a case against you if you are not consistent with holding everyone accountable for the policies.
Community Distrust. If your board continually allows rules and regulations to be broken, you will lose your ability to govern the association. Homeowners may decide that as a group the board cannot be trusted in carrying out their duties. It will lead to turmoil and a very ineffective governing body in the community.
Gassen Offers Property Management Services in the Twin Cities
Whether you own a condo or apartment complex or are running an HOA, Gassen can help you with all of your financial matters and manage your property at the same time. We provide comprehensive local property management and services that keep your finances on track. We also handle real estate and rental management. To schedule a consultation, call us at 952-922-5575, or you can message us on our contact page.