HOA boards are often made up of volunteers who live in the community they’re helping to lead. Every board of directors operates a little differently, depending on the community and the needs of its homeowners and neighborhoods. However, there are some specific roles and responsibilities that are common across all HOA boards.
If you’re thinking about joining a board or you’re curious about what types of responsibilities and authority a board has in your own community, we have some general information for you today.
Maintaining Governance and Oversight
One of the most time-consuming responsibilities facing any HOA board is governance and oversight. Boards are required and empowered to hold the homeowners in the community accountable to all the rules and regulations that have been voted on and accepted as part of the community standards.
It’s the role of the HOA board to maintain and enforce the community’s bylaws, rules, and regulations. This can be a difficult path for board members, who can quickly become unpopular with their neighbors, especially if they’re a bit over zealous with that authority. However, the oversight is necessary in order to protect your community and ensure everyone is treated fairly and consistently.
Managing HOA Board Meetings
Board members can expect to meet regularly to discuss and vote on the business of the community. The number of required meetings should be set forth in the bylaws. A good HOA board will generate interest and participation within the community. Homeowners have a right to attend or participate in these board meetings, so anyone who is interested in the business of the board or has something to share with the community leadership should attend the meeting.
A well-run board meeting will have an agenda, and the meeting will be productive. Remember that the meeting minutes are a matter of official record. They need to be accurate, transparent, and kept on file in case any residents want to see them.
Budgets and Planning for HOA Communities
Every HOA board is responsible for planning budgets and collecting association dues. The treasurer will have most of the oversight in these financial matters, and if the board is working with an accounting firm or a property management company, most of the income and expenses associated with the HOA will be automated and electronic.
The board needs good accounting software to prevent fraud and keep all the accounting and bookkeeping transparent, detailed, and accurate.
Consider Boise HOA Property Management
An experienced and professional Boise property management company can help your board stay organized, responsive, and communicative. We can provide as much or as little support as you need. Depending on the size and scope of your association, you may need us to coordinate repairs and gather quotes. We can help with the accounting and reporting or take care of dues and fines. We have worked with association boards to organize newsletters, homeowner relations, and committees for various association functions.
The Community Association Institute has reported that nearly 70 million people live in an HOA community, and those communities require leadership from their boards. If you have any questions about how your own board is working or what you can do to improve its efficiencies, please contact us at Wave Property Management.
Wave Property Management is a full-service leasing and management company serving Boise as well as nearby communities such as Meridian, Garden City, Nampa, Mountain Home, and Caldwell. We work with new rental property owners as well as established investors with growing real estate portfolios.
