The Significance Of Setting Up A Maintenance Plan For The Homeowners Association
Posted on July 26, 2020 8:00 AM by HOA Sites
Categories: HOA Website
Neighborhoods that never implement a maintenance plan have been known to worsen over time. These communities are characterized by looking messy with unkempt yards, dilapidated structures, and roads that need to be repaved. Such neighborhoods are frustrating to homeowners as they tend to turn away potential buyers. Although, the presence of this type of wear and tear can work in your favor since it will likely convince your HOA to prepare and follow a maintenance plan.
The Role Of A Homeowners Association
Almost every homeowners association website emphasizes the role an HOA plays in maintenance. Yet, many aren’t exactly sure what that means. The association will repair damaged structures, perform basic landscaping upkeep on common areas, and combat insect infestations. HOA management must also collaborate with board members to not only administer ongoing maintenance but to plan for future maintenance tasks and projects.
Use A Proactive Approach
Many communities collapse due to their associations taking a reactive approach to maintenance. A maintenance plan should prepare for the future by analyzing all the areas of a community that might require maintenance in the weeks, months, and years to come. Then, outline the necessary steps that the association needs to take to prepare accordingly.
The Purpose Of A Reserve Study
Reserve studies are frequently mentioned on the homeowners association website as they are a key component of the maintenance plan. A reserve study is a budgeting tool that helps an HOA set aside funds for the community to use so future expenses are met. Board members can’t prepare a credible maintenance plan without crafting and annually reviewing the reserve study.
Some communities fail to meet their maintenance goals since the board has refused to trust in the reserve study. As a result, this presents more of an opportunity for maintenance issues to become a problem. Maintenance plans are vital because they extend the life of a community’s assets. Without a proper plan, the financial and aesthetic value of the community will likely decline.
- The Significance Of Setting Up A Maintenance Plan For The Homeowners Association
- Can The Board Use Reserve Funds For Items Not Listed In The Reserve Study?
- 4 Considerations That Reduce Maintenance Costs and Stop HOA Fees From Increasing
- Key Tips That Ensure An HOA Board Protects The Homeowners Association
- What Is An Ideal Percentage For The HOA Reserve Funds?
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