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In 2021, 358,000 homeowner associations (HOA) were actively working for their communities. These organizations are working to manage the neighborhoods and communities that they oversee.
Most HOAs are governed by HOA boards who take on the responsibilities of managing the association.
As a member of an HOA board, you're tasked with specific responsibilities. HOA board responsibilities cover a wide range of tasks.
Read on to learn more about how HOA boards work and what responsibilities they're tasked with.
Manage Finances of the HOA
One of the HOA board's responsibilities is managing the HOA's financial affairs. The HOA board is tasked with all duties related to finances, including:
- Collecting assessments
- Paying the association's expenses
- Drafting and getting approval for the annual budget
- Maintaining reserve accounts
- Record keeping of all financial matters
- establishing financial policies and handling all association financial accounts
The board, or their designee, gets tasked with collecting association dues. If dues aren't paid promptly, then late fees must be assessed, and the board requires additional collection measures.
Governing Documents of HOA
Most HOA duties include writing and enforcing a governing document for the association. This means that HOA board members must work to implement the association's rules.
Without question, this is often one of the worst jobs on the board. If a neighbor or association member is noncompliant with some rule or regulation, then it must be addressed by the board. They're tasked with this job if issuing fines is necessary per the document.
It's good for HOA boards to approach their governing document to make the community a better place for all. When there are regulations that everyone abides by, the community is better for everyone.
Community Maintenance
Also, as part of the HOA services, the board must handle maintenance for the community. The HOA company must either have a maintenance crew or establish contracts with maintenance contractors.
This will include handling maintenance that is:
- Emergency maintenance
- Preventative maintenance
- Seasonal maintenance
The board must handle the maintenance of common areas in the community. This might include gathering places, including:
- Parks
- Walkways
- Pools
- Clubhouses
- Gyms
- Playgrounds
It's important to note that caring for these areas isn't the board's responsibility. Instead, they need to ensure they have hired the correct maintenance team to handle the tasks on behalf of the HOA.
Some HOAs also opt to outsource some of these responsibilities as a board by hiring a company to handle their association management services.
Meet as a Board and Association
Most HOA board governing documents include information and requirements for them to meet and elect board officers. Often, the HOA board must offer an annual meeting for all dues-paying association members.
HOA Board Responsibilities
HOA board responsibilities help to keep the community looking and running well. They also manage finances to take care of the community's upkeep.
We want to talk with you if you're part of an HOA board and are interested in learning more about association property management in Jessup, Maryland. Contact us today to learn more about association management services.
