Smaller HOA communities usually do not hire professional companies to look after the management. The number of people and area are both smaller, so it makes sense to manage it yourself. Another factor why smaller communities do not hire services is because they usually do not have the funds to afford them.
Nevertheless, there are still ways you can successfully manage your small HOA. It is difficult, but not impossible. However, if you find it difficult, you may contact scottsdale hoa management companies to see if it fits in your budget.
Tips for a successful self-managed HOA
- Keep records of financial transactions.
Handling the finances of an HOA is perhaps the most difficult task for the HOA board. Without professional help, make sure you safely keep all records of financial transactions. You can keep track of where the money is going and ensure accurate reporting. A well-kept finance record will also help to know if your HOA is going through a financial crisis and needs more funds.
- Welcome complaints from homeowners.
One part of management is making sure everything is well and good in the community, and the homeowners are happy. This can only happen when homeowners get the permission and space to give their feedback. No matter if it is praise or complaints, always welcome comments from the residents. This allows you to understand what you are doing right and which areas need more work.
- Know the rules and regulations.
As a board member, you are responsible for making sure that all residents comply with the rules and regulations of the community. This helps maintain the quality of life in the community as well as ensure everyone’s safety. You should be well-versed about the rules so you can enforce them effectively.
- Fulfill board duties.
As a board member, you are required to fulfill the board’s duties, such as holding board meetings, creating and enforcing rules, preparing an annual budget, talking about upcoming projects, etc. These discussions are important for the community’s growth and, thus, should be conducted professionally.
For example, meeting the board members over dinner would not be an ideal way to discuss these.
- Conduct voting.
Finally, before you decide to self-manage the HOA, it is best to conduct voting first. All the homeowners and board members would be required to vote on whether they want a self-managed HOA or hire professional services. This can help ensure that you do something that everybody wants and not something you want.
scottsdale hoa management companies can help you manage your HOA and efficiently handle all tasks that you may find hectic and confusing otherwise. Still, if your HOA board members have the right skill and knowledge, you are free to try self-managing.
