Happy New Year from all of us at Wise Property Solutions! As we enter 2015, I’m continuing my annual tradition of providing HOA Board members improvement ideas for the coming year. I’m not going to call them New Year’s Resolutions. Too many association Boards set huge goals at the beginning of the year, with maybe a 10 to 15% success rate. The problem is that major goals can be too overwhelming. This year, break down one or two of your lofty goals into bite-size bits that you can accomplish.
Does your HOA need to balance the budget?
A common resolution for many associations in the Tri-Cities area is to achieve a balanced budget. This is an ideal goal for HOAs with budgeting issues. However, you can’t do the same thing and expect different results. Assess your budgeting problems and implement small steps to move you toward a balanced budget.
- Increase assessments if you aren’t keeping up with inflation
- Execute a more effective collection system
- Review and negotiate annual contracts
- Pinpoint line items that exceed the budget and brainstorm potential solutions
- Engage a property management company to show you how to get back on track
Are your meetings lengthy and unproductive?
Meetings that are more effective often head the resolution list for community associations. Instead of just striving for overall better meetings, identify the areas that need most help. Then, apply methods to overcome one problem at a time.
- Create advance agendas to help everyone prepare
- Review pre-work and research for the upcoming meetings
- Adhere to the timing on the agenda for each topic
- Assign follow-up actions
Do you have excessive disputes in meetings?
Condominium and HOA Board meetings are “high touch”, so relationships matter. Everyone will never see eye-to-eye on every topic. So, it’s common to see small disputes between members escalate into heated arguments. Taking action is important to prevent petty misunderstandings taking a toll on your Board meeting and your community.
- Mediate objectively
- Listen and restate the main points in each case
- Brainstorm potential compromises for both parties
- Employ a third-party mediator if you can’t reach a resolution
By turning your resolutions into bite-size bits, you’ll achieve the results you seek without being overwhelmed. Regardless of your resolution topic, manageable steps will help you make 2015 your community’s most harmonious and successful year ever!