9 Ways HOA Managers Can Succeed

Many horror stories about homeowner associations exist, so HOA managers must adhere to specific standards to erase that stigma. While insurance agents may not have the power to influence HOA management decisions directly, they can offer support by providing expertise.

Advice for HOA Managers to Follow

By following these nine tips, HOAs can foster harmony in their neighborhoods.

Seek Assistance Outside of HOA Management

While HOAs can and should add members from varied backgrounds to their boards, there will still be areas outside their purview. Therefore, the best strategy is to seek assistance from experts. For example, the board should consult with an insurance agent when considering directors’ & officers’ liability policies.

HOA Managers Must Be Transparent With the Community

One of the best success tips for HOA managers is to work with the community, not against it. Withholding information can seem deceptive, even if that’s not the intention. To avoid even the appearance of deception, HOAs should be as transparent as possible by addressing residents’ concerns in a public forum.

Create a Realistic Budget

Often, HOAs handle community beautification and neighborhood projects:

  • Ice removal
  • Sidewalk maintenance
  • Construction and maintenance of parks
  • Construction and maintenance of gyms, pools, and sports complexes

To ensure an even distribution of funds, HOAs must create a realistic budget. This step is vital for a new project, as residents want assurance the organization is financially responsible.

Involve the Community in Activities

Communities with solid bonds appeal more to homebuyers, but these connections don’t appear magically. HOAs need to nurture them with fun activities:

  • Picnics
  • Games
  • Fundraisers

For optimal results, HOAs should collaborate with residents to create events.

Communicate Openly With Residents

Of course, collaboration is only possible with open communication. HOA management should inform community members of policy changes, maintenance schedules, and anything else that may affect daily life. The board should also welcome feedback and make it easy for neighbors to speak up. A newsletter or website are great ways to keep everyone updated.

Prioritize Organization During Meetings

Staying on-task is crucial to productive meetings. Board members should organize meetings with a set agenda and procedures to prevent tangents. HOAs should also distribute organizational responsibilities so no one gets burnt out.

Research Decisions

Part of learning to be a successful HOA manager is slowing down and considering options. The best choice is only sometimes obvious; most of the time, it takes careful research to determine the right path forward.

HOA Managers Should Enforce Policy Equally

Unequal policy enforcement is one of the quickest ways to turn communities against an HOA. A written policy exists to minimize the risk of discrimination; failure to adhere to it makes the organization vulnerable to accusations of favoritism. Depending on the circumstances, residents may even have grounds for a civil suit.

Choose the Right People for HOA Management

The most crucial step to effective HOA Management is choosing the right people for board positions. Individuals should have leadership qualities and prioritize the well-being of their community above personal gain. Sometimes, the most efficient way to ensure this is to hire an objective third-party management company.

About Kevin Davis Insurance Services

For over 35 years, Kevin Davis Insurance Services has built an impressive reputation as a strong wholesale broker offering insurance products for the community association industry. Our president Kevin Davis and his team take pride in offering committed services to the community association market and providing them with unparalleled access to high-quality coverage, competitive premiums, superior markets, and detailed customer service. To learn more about the coverage we offer, contact us toll-free at (855)-790-7393 to speak with one of our representatives.