How To Review Your HOA Management Company

Homeowner Association Assessments

Homeowner’s associations help neighborhoods stay attractive and, with the right attention, can keep the real estate higher in value. HOAs also add structure and organization to master-planned communities, often providing common areas and amenities that make a neighborhood more valuable. However, it takes a lot of work to maintain and run, and when they aren’t working as they should, they leave a community vulnerable.

Poor HOA management can cause a wide range of problems. For example, it can drive up monthly fees, lead to neglected common areas, and even drive down values for property in the community. An HOA Management Checkup can help your HOA identify areas where problems lie, so you can take measures to stop the problem and improve overall member satisfaction within your community.

HOA board members are responsible for their communities. Therefore, they need to ensure the association has honest, effective management. Henderson Association Management can help you assess your services and ensure you give your community exactly what it needs.

Comprehensive HOA Community Management Checkup

If your neighborhood is ready for an assessment to ensure the HOA is doing its job well, be sure, the checkup is thorough. At Henderson Association Management, we recommend checking the following areas:

• Reserve Study– A Reserve Study analyzes your community’s common areas to create a plan for replacement and repair needed in the future. It then analyzes how much you should be putting into reserves to ensure you have the funds for these projects when the time comes.
• Project Reviews – If you are planning a large project or have had one in the recent past, the Project Review will analyze the quality of the work, the overall value added to the community, and the budget or pricing that went into the project. If the review finds issues, the Board can decide what to change for future projects.
• Financial Management– Do you have a good plan in place for collecting assessments and making financial reports? Have an analysis performed of financial management to ensure money is being handled well and that community members can easily pay their fees.
• CC&R Enforcement – Are your homeowners following your covenants, conditions, and restrictions? Take a drive around the neighborhood to see if homes and yards are in good repair. Consider how you keep a record of violation notices and similar documents. This can be an area where improvement is needed, and we can help you take measures to do so.

If you assess each of these four areas, you will understand how effective your HOA is, and you will find those areas where you can improve.

HOA Management Services Help Overcome Shortfalls

If you perform an HOA Management Checkup and find areas lacking, Henderson Association Management can help. Our association management services can help you take the proper measures to address your shortfalls and provide a better service to your community’s members.

Learn more about our services and how they can help your Board do a better job of meeting the needs of your community members today. Contact us to learn more!