Whether you’re interested in serving on an HOA management board or simply want to get more involved in your neighborhood, understanding the basic functions of your community’s elected officials is critical. In the former case, it can help you decide whether to serve on said board, and in the latter it helps you hold your HOA management accountable for their decisions.
While the exact responsibilities of the board will be outlined in your community documents, there are a few overarching responsibilities that most units across neighborhoods will share. Gassen, your Eden Prairie providers of property management services, outlines them below.
Keeping a Running Budget
All those amenities won’t pay for themselves! The HOA board owes its members financial responsibility in the form of keeping a close eye on finances. This can take many shapes—prompt due collection, responsible spending, and accurate and transparent budget updates, to name a few.
If that sounds like a lot, don’t sweat it; accounting property management services are here to help your HOA management team get a handle on your finances. Not only do such services take away loads of stress, but they also go a long way towards keeping your HOA out of legal hot water.
Ensuring a High Standard of Living
This requirement is subjective to neighborhood tastes and resident desires—but regardless, no HOA eludes it in its entirety. Residents pay dues so that their neighborhood can be improved to their liking and the property values can be kept high. Both can be lumped into one responsibility of the board: ensuring resident satisfaction.
Plus, at the end of the day, it’s the community that dictates who is on the board, so members must do their best to run a neighborhood in which contentment is aplenty.
Fair Rule Enforcement
By fair, we mean impartial. As we said above, HOA governing documents exist for a reason: to make sure that every resident can enjoy the same high standard of living within the neighborhood’s borders. Selective rule enforcement not only is unethical; it also goes directly against the point of an HOA in the first place.
A thorough understanding of your HOA’s documents is critical to fair rule enforcement—and this can only be achieved by sitting down and reading them for yourself. If you’re a board member, make sure you double-check and cite the specific rule before implementing any fines.
Gassen: Here to Help Organize Your HOA
Our property management services, online property management platform, and more can help your HOA become its best self. To learn more about what we can do for your community, call our Eden Prairie office now at 952-922-5575.