New Year’s resolutions abound in early January, but how many will stick? Many of us find that some of our goals don’t inspire the stick-to-itiveness we need to accomplish them. Other resolutions can be motivating. However, not all resolutions have to be about losing weight, healthier lifestyles, getting fit, and other personal habits. The dawn of a new year is an ideal time for your HOA Board to look at how you govern your association to see if some resolutions could create the foundation for a healthier community.
Gauge the fiscal health of your association. Is your delinquency rate under control? Could your collections be better? Are you assessments adequate? Balancing the association’s current and future needs is key to creating a vibrant community. Resolve to have the right checks and balances in place to keep association business running smoothly.
Assess the volunteer skills in your community. Your association is a business, and you must have qualified people to run it. Many Boards find that they lack people power and/or the necessary skills to keep the community at its best. Resolve to evaluate how a property management company can help you manage the association more effectively.
Review homeowner compliance with the association’s governing documents. Conduct a year-in-review for your community to look for improvement opportunities. If homeowners commit the same infractions repeatedly, ask why. Is it lack of communication, understanding or perhaps inconsistent enforcement by the Board? Resolve to identify and correct any issues that negatively affect complying with the rules of your governing documents.
Examine Board communications. If Board members fail to share information with all the directors, it can create a lack of understanding that results in poor decisions. It also creates hard feelings that get in the way of Board member relationships and teamwork. Resolve to create an excellent communication process between Board members that fosters the right environment to make solid community decisions.
There is no time like the beginning of a new year to begin an improvement journey—not only for you personally, but for your HOA Board too. For most Boards, it’s about fine-tuning what you are already doing. As 2014 gets underway, resolve to find one or two new ways to provide better and more efficient service to your community.
Happy New Year!
Wise Property Solutions is a property management company serving East Tennessee with offices in Knoxville, TN and the Tri-Cities, TN-VA. Specializing in Condominium Association Management, Home Owners Association Management, HOA Management and Gated Community Association Management.
Tri-Cities, TN-VA: 423-926-7373
Knoxville, TN: 865-643-8989