In the U.S., the average homeowners' association (HOA) member pays almost $200 per month in member fees. Where does all this money go, and who decides how it gets used?
The HOA board is responsible for answering both these questions and more. An HOA board member is a volunteer from within your community, and they handle much of the work of keeping your neighborhood running well and looking great.
Considering running for board membership yourself? Keep reading to learn all about HOA management from the perspective of a board member.
For most homeowners, the biggest perks of living in an area with an HOA are high property values and access to high-quality public amenities. The HOA board is responsible for making sure these amenities are available and that the public spaces within the neighborhood are well-kept.
To this end, board members decide how and when to allocate HOA funds to neighborhood improvement projects. They also hire contractors and other maintenance specialists to complete work on public buildings as necessary.
The HOA board is also responsible for ensuring that the HOA remains in good financial standing. They do so by:
- Collecting and tracking member dues
- Researching and applying for other sources of income
- Keeping up-to-date financial records and budgets
- Paying the association's fees and taxes
Finally, the HOA board must also ensure that all bylaws, rules and regulations, and covenants are being followed by community members. When they receive complaints about violations, it's their job to thoroughly investigate the matter and encourage members to comply with the regulations of the HOA. HOA boards must also keep their HOA in compliance with local and national government regulations.
Some HOA boards will hire a community association manager to handle day-to-day duties related to governance and compliance.
Most HOA boards have the following board officers:
- President: Oversees HOA meetings and leads the group through key decision-making. Must have an intimate knowledge of the bylaws and regulations of the organization.
- Vice-President: Fills in for the President when the President is unable to fulfill their duties.
- Secretary: Takes and distributes meeting minutes to all board members. Maintains organized records for the HOA.
- Treasurer: Prepares quarterly and annual budget reports for the board. Manages the HOA's financial records and does taxes for the HOA.
Depending on the size of your HOA, you might have general members in addition to these board officers. If you have a small or modest-sized board, it may be made up of only these four members. If you have a large HOA, you might also have subcommittees and other working groups who report to the board officers on a regular basis.
Board members are expected to attend most scheduled board meetings, which usually happen on a quarterly basis.
Get Support for Your HOA Board
Your HOA board works hard to fulfill all these obligations while remaining attentive to the needs of the community. Board service is hard work, but it's a great way to give back to your neighborhood and to make your voice known within your community.
Sometimes even the best board needs a little help, and that's where our management services come in. We'll help you keep track of your HOA's finances, schedule vendors for neighborhood maintenance, and other key HOA tasks.
Ready to learn more about our community association management services? Fill out our contact form to schedule an appointment with us!