8 Tips For Running a Successful Condo Owners Association
Many people today live in condo associations, but not all of them benefit from a successfully operated HOA! From understanding the hierarchy of governing documents to keeping residents happy, board members must master some best practices to encourage thriving communities.
Condo owners associations support residents, deliver safe buildings, and keep people safe within the building and common areas. Ready to serve your community well and make your homeowners association a place where people love to live? Here are eight tips on how to manage a condo association successfully.
1. Establish A Competent Board
The best HOAs need a competent board! The board of directors is the governing body of your condo community. Members should have knowledge of community association management, resident needs, and best practices. To make informed decisions, your board must also understand critical documents and laws that apply to operating an association.
To find qualified directors for the board, look for homeowners who have good communication skills, leadership skills, and management experience. You also want to ensure that board members are proactive, collaborative, reliable, and strategic individuals. Most HOA boards include several key officer roles, such as the board president, vice president, treasurer, and secretary.
2. Put the Community First
Managing an excellent association means putting the community first. Board members can’t forget legal obligations to make good decisions that benefit the community and people living within it. Your responsibilities also include creating and maintaining the annual budget, holding community events, preparing and participating in regular board meetings, avoiding conflicts of interest, addressing complaints, and fostering a sense of community among its members.
3. Have A Business Mindset
Running a successful community association requires a business mindset. Like any other business, all members should be aware of their responsibilities to perform them effectively. As a business “manager” for the association, the board must be strategic when making plans, setting HOA dues, assessing needs, and being accountable to the community. All board members must prioritize the values, vision, and mission of the community and avoid treating their roles as a hobby!
4. Involve Community Members
Condo associations cannot be successful without their members and their active participation. A thriving community requires boards to engage residents in activities, decisions, meetings, planning, and more. Use homeowners as valuable resources and put their interests and needs first. Community association managers recommend keeping in touch with residents on a routine basis, planning events, gathering insights, and encouraging new residents to run for board roles when it’s time for elections. Fresh ideas and new insights help strengthen community relationships and keep engagement high!
5. Organize Productive Board Meetings
Boards meetings are important for excellent condominium management! However, it is important to remember that checking the box of having a meeting isn’t the ideal way to approach these critical events.
Board and community meetings should be well-prepared and stick to an agenda. Use these opportunities to discuss existing issues and share ideas and conduct official association business. All board members should come prepared for these meetings and deliver relevant materials and documents for attendees to guide the conversation and time.
Meetings do not have to be long! However, they should be consistent, stick to the point, and help residents feel heard and appreciated. Even short meetings can be productive and bring desirable results. If your HOA struggles to conduct effective meetings, a homeowners association management company can help prepare agendas and direct meetings.
6. Communicate Openly
A successful community cannot exist without open communication. Community members must have access to board members, documents, and information to stay informed about their community. In addition to regular meetings, establish a schedule of routine updates, including a newsletter or email announcement to keep in touch. Condo owners should be informed about current projects, changes to policies, the association’s income, expenses, HOA fees, and other financial decisions and transactions. Good communication prevents a gap between the board and the members and helps build trust among residents!
7. Enforce the Rules Consistently
It can be tempting to play favorites with the most beloved residents in your community. However, association boards must commit to consistent and fair rule enforcement—no matter who violates a policy. Showing community members that your board is impartial when upholding the values of the community helps build trust and reduces conflict when a homeowner feels like they’ve been treated unfairly compared to another resident.
8. Get Support From a Condo Association Management Company
Managing a healthy condo owners association isn’t easy! Many HOAs benefit from support services offered by professional community management companies. Whether your community could use a little guidance or significant with any of the best practices we’ve mentioned here, the right association managers can be an excellent resource.
Trestle Community Management Supports Condo Associations!
Strong associations need strong support! If you are looking for a community management company in the Puget Sound region, Trestle Community Management can help. We offer full management services, management on-demand, financial management, and maintenance services to fit the needs of your association. Reach out soon to learn more about how we can help.
