Every type of board or organization faces its own unique challenges. A homeowners association is no different. Overcoming these challenges can be difficult but it can help to acknowledge them and learn about them before they are staring you in the face.
What Challenges Do HOAs face?
There are several specific challenges a homeowner’s association may face during its tenure. A few of them are:
· Financial planning – Unsuccessful HOAs may have issues figuring out their budget and reserving it in order to operate. It’s important to understand your finances, plan ahead and create a reserve budget.
· Enforcing rules – The homeowners association should have restrictions, conditions and bylaws that state how it should work and operate. In many instances, making sure the members of the association follow these regulations can be difficult. Creating guidelines for how to handle situations where the rules aren’t being followed can help when these problems arise.
· Collecting fees – Members of the HOA can be hesitant to fulfill their obligations in terms of fees or dues each year. Some may refuse, protest or be unable to pay. Maintaining transparency and keeping members informed when fees are increased or due can help streamline this process.
· Member involvement – Keeping people engaged can be difficult. Getting people to meetings and ensuring they are reading emails and newsletters is often challenging. You can work to solve this issue by building relationships with members and engaging in positive interaction. Social events and other engagement can also help with this.
Many people find themselves living in HOAs that have created a cooperative and enjoyable living community. And homeowners associations want to ensure their members are living in a positive environment. But this can be difficult when met with these challenges. However, if a board handles these issues professionally and efficiently, your homeowners association can function as it should be and your community can remain an enjoyable place to live.