Homeowners associations without an HOA manager are led by board members that volunteer their time. Usually, these members have a limited amount of free time to spend working for the association and information may not be updated on the neighborhood website. There are several areas to analyze in a homeowners association to decide whether or not an HOA manager should be hired. What should every homeowners association take into consideration before making that decision?
The Value Of A Manager
Board members generally know less about homeowners associations than a manager unless they have been involved on every decision for many years. The value of most managers isn’t noticed until decisions need to be made about finances, unexpected projects, and setting aside money for the future.
Finances can make an influential impact on the homeowners association. Managers are more likely to understand that as they have seen the result of financial decisions in the past and can guide board members. With financial guidance, decisions are made to secure the funds for repairs during an unexpected project.
Some board members forget to account for that which could lead to a shortage in reserve funds. Managers know which projects are likely to need additional funding and have a better understanding of how the reserve study needs to be updated. Their assistance to the HOA board is highly valuable as it keeps the association running smoothly.
Two Additional Reasons
Homeowners associations have a duty to keep residents informed through newsletters or updating the neighborhood website. If the association has a manager, communications improve since they make it a priority to post updates and notify members of upcoming board meetings. Finally, the last reason to appoint a manager is to ensure that board members are trained properly. Typically, this helps the association stay maintained as educated decisions are made and homeowners get to enjoy a quality lifestyle.