April 2019 | Goodwin & Company

Prepare to Welcome the Millenials

The next wave of homeowners and Association members will inevitably be the Millennial generation. Keep in mind that this generation of members is one that comes with high technological expectations within any association that they join.

Be prepared to meet their needs on a mobile-level and have your processes and paperwork completely digital in order to keep the convenience factor high. Expediency is key for the Millennial generation, and a potential member is likely to walk away from an Association that still relies on filing large packets and delivering physical newsletters. If you know that your Association needs to catch up with the times, hiring a new association management team that is tech-savvy can help get your neighborhood headed in the right direction.

Stay Up-To-Date on HOA Management Software

Association management can be very adept at helping your Community Association find the right software to assist in day-to-day operations. In the past, property management software was viewed as an extra boost to a community’s amenities. In 2020, this type of software is now the industry standard.

There are several reliable vendors on the market that can keep your association from falling behind in the pack. Management software can help you speed up processes and let your Board focus on being the face of the community.

HOA Management software can help your association with:

Online forms and applications

Creation of payment portals

Communicating to residents via their preferred method (text, facebook, email, etc.)

Custom websites

Meeting and Social Event notices

Ease of access to information

Keep Your Amenities Ambitious

Most associations have a clubhouse, pool, gym, or extensive common areas. Sure, these are still attractive amenities, but they’re what new members have already come to expect. Take some time in 2020 to meet with your fellow association members and association management. Carry out a reserve study to start preparing for making your community even more attractive to buyers.

Consider amping up your gym by adding in new equipment, creating small “pocket parks” for families, or adding in a beach style entry pool if your association doesn’t already have active water features. The possibilities for improvement within your community are endless, so always be on the lookout for how your amenities can get a boost.

Follow the Right Technology Trends with Goodwin & Company

Staying ahead of trends is much easier with the right management association team by your side. Goodwin & Company is a Dallas-based Association management group that can help lighten the load of financial bookkeeping and more so that your community can focus on what really makes it great. Contact us today to find out more about the services we can bring to your neighborhood.

New association board members may have an idea of what their responsibilities entail, but sometimes need a more in-depth example of their duties and authority that they hold over a community. The community association is in place to maintain order throughout a neighborhood and ensure that it remains a great place to live for current and future tenants.

With the help of a hands-on association management team, an association board can go on to make a positive difference in a neighborhood. While the finer points of role responsibilities are defined in your association’s Governing Documents, here are some broad examples of the responsibilities each role can expect.

Roles of Your HOA President

Your association president is the ultimate face of the community. Think of them as a CEO that harbors the responsibilities and authority of someone who owns a company. When it comes to the actual tasks that a president has to take on include:

General administration of the board
Ensures that all other members are on top of their duties
Acting as a spokesperson for the directors as a whole

As an acting president for a board, it is important to be fair and organized. Presidents can be removed at any time by a majority vote from the other members of the board without cause. If you find that some of the administrative duties are a bit daunting (i.e. financial, drawing up vendor contracts, etc.), then look to your association management team for support and encouragement.

Responsibilities of Your HOA Vice President

Much like the title states, the vice president is always available to take on any powers the acting president may have. However, these terms only come into play if the Association president must be absent from a meeting or if the board is in-between presidents after a removal.

While this may seem like the VP is waiting in the halls for their time to shine, this couldn’t be further from the truth. An association vice president is responsible for overseeing the recreational properties of a neighborhood, shared buildings, and organizing Association-sponsored activities.

Roles of an HOA Secretary

Every board needs an excellent secretary to keep its direction for the community on-course. As a board secretary, your responsibilities are:

Taking meeting minutes
Keeping board meeting records
Maintaining membership records
Maintaining Association records and documents

Many of these Secretary responsibilities can be taken on by the management company. But it is still important to have a Secretary for taking minutes and meeting administration.

Responsibilities of an HOA Treasurer

Association financial issues are all handled by the acting Treasurer. The responsibilities of this position are extremely important to the community and usually involve assistance from the board’s current association management organization. Not only does a treasurer secure community funds and manage financial records, but they also:

Prepare annual budgets
Keep tabs on the financial standing of the Association
Lead reserve studies
Review monthly financial statements

Keep Your Board Members On Track With Goodwin & Company

As a member of your Association Board, you are officially representing the community of homeowners that you serve. This is a job that should never be taken lightly and must always follow governing community documents and your state’s laws.

At Goodwin & Company, we understand that sometimes even the best board members need a helping hand with maintaining a community. From creating vendor contracts to assistance with collecting dues, we can help take some of the weight off of your shoulders. Contact us today to find out more about our services and how we’ve helped associations like yours in the past.