These days, 31.2% of all Washington homes are part of an HOA (according to Today's Homeowner). The question is: how many of them rate their experience as a positive one?
If you're a board member, you know some HOA residents expect more from their association. Occasionally, they may expect too much. In many cases, however, the HOA could be doing more to protect their rights.
Need help with running an HOA successfully? Read on for five HOA property management tips to keep your members happy!
1. Have a Clear Vision
When it comes to homeowner association tips, it all starts with a vision. Where do you want your association to be in the future? Knowing this is the first step toward establishing an actionable strategic plan.
Once you have a long-term plan in place, figure out which projects will help you accomplish it. For instance, if you want more new homeowners in your HOA, consider organizing more open community events.
2. Keep Residents Informed
Many community management ideas rely on communication. If your residents aren't aware of key information, you'll struggle to enact your policies. You can reach them via social media, but there's always the risk of a data breach.
The best way to keep residents informed is to use HOA management software. These dedicated tools can help you with:
- General communications
- Violation notifications
- Architectural change information
- Email discussions
3. Draft a Healthy Budget
All property management strategies require having a set budget. If you don't have one yet, draft it ASAP. In Washington, the HOA board must also provide a copy of the budget to all residents within 30 days.
To draft a budget, you'll first need to appoint a budget committee. They'll schedule dedicated budget meetings to gather the necessary information. The end goal is to ensure your budget is fair and balanced.
4. Keep Members Invested
One of the best HOA management tips we can give you is to keep your members invested. You can gauge the level of interest by your community meetings. If they're productive, you have a solid support system in place.
If your meetings aren't too popular, try to foster a sense of camaraderie among residents. Here are some things you can do:
- Welcome new homeowners
- Be friendly and approachable
- Organize social events
- Reward engagement publicly
5. Enforce Policies Effectively
Rules may not seem like fun, but following them is the glue that holds an HOA together. In a successful community, rules are enforced effectively. If you often "let things slide," you're setting your HOA up for failure.
Of course, efficient HOA practices also require efficient rules. If a rule is outdated, you shouldn't blindly follow it. Instead, use common sense and see what the board can do to change the rule.
Need Help With HOA Property Management?
The bottom line: HOA property management takes effort and attitude. If your HOA board isn't performing smoothly, the above tips will help. You can also hire an HOA manager to help you with specialized tasks.
At Invest West Management, we've been helping HOA communities in Vancouver, WA for 40+ years. Unlike many management companies, we don't charge extra for services that are part of our fixed-rate agreement!
Get in touch with us now to see how we can help your community!
