There are approximately 358,000 homeowners associations (HOAs) in the United States. Almost 30 percent of the U.S. population lives in neighborhoods governed by one.
HOA popularity stems from two main, related benefits. These are making communities better places to live and retaining home value. This requires a lot of time and work that falls mainly on the HOA board of directors.
Boards are usually made up of volunteer community members who have been elected by the neighborhood. They play a major HOA role. Their responsibilities can vary between communities, but there are some typical ones that you see with almost every HOA.
This article covers common HOA responsibilities. Keep reading to find out what you can expect when serving on yours.
Grounds Upkeep and Improvement Projects
One of the main responsibilities of HOA board members is to ensure the maintenance of common areas. This can entail green spaces or buildings (in the case of condo complexes) maintenance and taking care of amenities. These include things like swimming pools, tennis courts, or fitness centers.
Board members also might line up services to maintain fencing, gates, sidewalks, and roads. They can decide to start improvement projects (usually with input from the community). Common examples include putting in walking trails, playgrounds, and community gardens.
Board members would request bids from contractors and report these findings at HOA meetings. They would be responsible for lining up projects and ensuring their completion.
Budget and Finances
Almost every HOA charges monthly or annual dues to people living in the community. These funds are then used to enrich the neighborhood or make improvements like the ones described above.
It is the responsibility of HOA board members to decide how best to spend these funds. They need to keep a meticulous budget and provide financial reporting to community members.
Board members are also responsible for finding insurance policies for the neighborhood. In some cases, they might need to identify representation for legal matters concerning the community.
Enforcing Community Standards
A big benefit of HOAs is that they have community standards by which everyone must abide. Many demand some level of uniformity in homes, including paint color or mailbox type.
These rules also govern new building projects and lawn upkeep. This ensures a certain level of quality for each home in the neighborhood, which translates to better home values for everyone.
HOA board members are responsible for enforcing these standards. When there is a violation, they must contact the member to inform them of the infraction. They also are responsible for collecting any fines associated with a failure to meet community guidelines.
Learn More About HOA Board Responsibilities and Association Management
Now that you understand some of the main responsibilities of HOA board members, you can make more informed decisions about how to run yours. Outsourcing some of these duties can help relieve stress and free up time for members.
PMI New Orleans is a full-service real estate asset management company. We provide a range of services, including HOA management. Reach out to us today to learn more.
